TEORI AGENSI: SEBUAH STUDI LITERATUR (MODEL PRINSIPAL – AGEN)

Abstract

Agency theory is an important theory that becomes a basic theory of organization, yet it is controversial theory. This is a literature research reviewing agency theory principal – agent models from the first time this theory are discovered, elaborates research of agency theory theoretically, then provides empirically research as its examination. This study also explains application of agency theory through research done by some experts, provides contradiction among researcher, and provides the application of agency theory in Indonesia. This study founds that characteristic of region is a primary factor causing the application of agency theory differs across the countries. Especially, the difference is seen between developed countries, such as USA, and developing countries, such as Indonesia. The difference is about conflict that happen and mechanism to reduce interest conflict between principal and agent, such as corporate governance and ownership structure.