Making agency theory work for supply chain relationships: a systematic review across four disciplines

Juri Matinheikki · Katri Kauppi · Alistair Brandon‐Jones · Erik M. van Raaij

68 citations0/0 files storedInternational Journal of Operations & Production Management

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Quality and Supply Management Supply Chain and Inventory Management Outsourcing and Supply Chain Management

Abstract

Purpose Contemporary supply chain relationships inherently rely on delegation of work between organizations and, thus, are subject to agency problems for which a wide range of governance mechanisms exist. This review of agency theory (AT), across four distinct fields, explains the connection between governance mechanisms and supply chain relationship types. Design/methodology/approach The study uses a systematic literature review (SLR) of articles using AT in a supply chain context from the operations and supply chain management, general management, marketing, and economics fields. Findings The authors categorize the governance mechanisms identified to create a typology of agency relationships in supply chains. Research limitations/implications The developed typology provides parsimonious theory on different forms of supply chain agency relationships and takes a step towards a “supply chain-oriented agency theory” explaining and predicting relationship types and governance in supply chains. Furthermore, a future research agenda calls for more accurate measuring of agency costs, to examine residual gains alongside residual losses, to take a dual-sided perspective of agency relations and to adopt AT to examine more complex supply networks. Practical implications The review provides a menu of governance mechanisms and describes situations under which these mechanisms could be deployed to guide managers when developing their supply chain relationships. Originality/value The first review to combine and elaborate views from four major disciplines using AT as a lens to supply chain relationships. Expanding the traditional set of governance mechanisms provides academics and practitioners with a bigger “menu” of options to consider.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2003Towards a Methodology for Developing Evidence‐Informed Management Knowledge by Means of Systematic Review 1989Agency Theory: An Assessment and Review 2012Seeking Qualitative Rigor in Inductive Research 1994Developmental Processes of Cooperative Interorganizational Relationships 1973The Economic Theory of Agency: The Principal's Problem.2002Do formal contracts and relational governance function as substitutes or complements?1998The Architecture of Cooperation: Managing Coordination Costs and Appropriation Concerns in Strategic Alliances

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