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    La teoría de agencia y la dinámica del control en las empresas familiares
    (Pontificia Universidad Católica del Perú. Departamento Académico de Ciencias de la Gestión, 2020-01-21)
    Uno de los retos por resolver por parte de las organizaciones en la actualidad es el de la relación entre propietarios y ejecutivos, en favor de los objetivos de la empresa. Este reto se intensifica cuando se refiere a organizaciones en las cuales los propietarios cumplen un rol dual con respecto a los mencionados, como ocurre en las empresas familiares. El objetivo de este artículo es explicar la forma en la que ocurre esta relación entre propietarios y ejecutivos en empresas familiares, desde la perspectiva de la teoría de agencia, a partir de la revisión crítica de literatura relevante sobre estos temas. El resultado de este estudio conceptual permite entender la complejidad de la dinámica principal-agente en empresas familiares y cómo la teoría de agencia puede contribuir a esta con base en las recomendaciones finales propuestas.
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    Expert decision-making: a Markovian approach to studying the agency problem
    (Elsevier, 2021-12-01)
    In this paper, we study the agency problem in an organisation within a Markovian framework. More specifically, the paper presents the case of a principal imposing an incentive-control structure upon an agent to force him to follow the principal's interests for which he was hired, against the tendency of the agent to follow his own interests. Findings point toward the principal's difficulty in controlling the behaviour of the agent through incentives and monitoring; instead, best results are obtained when hiring agents who care for their reputation and refrain from unprofessional behaviours. The implication is that if we consider that it might be difficult to identify this characteristic at the time of the agent's hiring, the best criterion will be to look for low levels of greed in the agent. This conclusion goes in some way against current practices of looking for aggressive agents for the generation of higher profits. Nevertheless, it should be noted that these potential benefits might actually fade away if the agent follows his own interests, instead of the principal's. Another interesting result points to the restricted, although necessary, role of monitoring to control the agent's behaviour, a result that goes against current research interests on measures of corporate governance. The paper is a contribution to expert decision-making.