Across the social sciences, agency theory has become one of the basicframeworks through which to analyze the organizational problem ofaligning interests between owners (principals) and those who carry outthe work of the corporation (agents). Less often analyzed within thisframework is the...

The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory of signal transmission, this...