Turning Agents into Psychological Principals: Aligning Interests of Non-Owners through Psychological Ownership

Journal of Management Studies

Volumn 50, Issue 3, 2013, Pages 361-388

  Sieger, Philipp ^a   Zellweger, Thomas ^a   Aquino, Karl ^b  

^a UNIVERSITY OF ST GALLEN   (Switzerland)

^b UNIVERSITY OF BRITISH COLUMBIA   (Canada)

Author keywords

Agency theory; Interest alignment; Psychological ownership; Psychological principals

Indexed keywords

EID: 84876453928     PISSN: 00222380     EISSN: 14676486     Source Type: Journal    
DOI: 10.1111/joms.12017     Document Type: Article

References (137)

1. Aiken, L. S. and West, S. G. (1991). Multiple Regression: Testing and Interpreting Interactions. Newbury Park, CA: Sage.
2. Alchian, A. A. and Demsetz, H. (1972). 'The property right paradigm'. Journal of Economic History, 33, 777-795.
3. Amabile, T. M. (1988). 'A model of creativity and innovation in organizations'. In Staw, B. M. and Cummings, L. L. (Eds), Research in Organizational Behavior. Greenwich, CT: JAI Press, 123-167.
4. Ang, J. S., Cole, R. A. and Lin, J. W. (2000). 'Agency costs and ownership structure'. Journal of Finance, 55, 81-106.
5. Antoncic, B. and Hisrich, R. D. (2001). 'Intrapreneurship: construct refinement and cross-cultural validation'. Journal of Business Venturing, 16, 495-527.
6. Astrachan, J. H. and Shanker, M. C. (2003). 'Family businesses' contribution to the U.S. economy: a closer look'. Family Business Review, 16, 211-219.
7. Avey, J. B., Avolio, B. J., Crossley, C. R. and Luthans, F. (2009). 'Psychological ownership: theoretical extensions, measurement and relation to work outcomes'. Journal of Organizational Behaviour, 30, 173-191.
8. Baron, R. M. and Kenny, D. A. (1986). 'The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations'. Journal of Personality and Social Psychology, 51, 1173-1182.
9. Bateman, T. S. and Crant, J. M. (1993). 'The proactive component of organizational behavior: a measure and correlates'. Journal of Organizational Behavior, 14, 103-118.
10. Beal, R. M. (2000). 'Competing effectively: environmental scanning, competitive strategy, and organizational performance in small manufacturing firms'. Journal of Small Business Management, 38, 27-47.
11. Beggan, J. K. (1992). 'On the social nature of nonsocial perception: the mere ownership effect'. Journal of Personality and Social Psychology, 62, 229-237.
12. Belk, R. W. (1988). 'Possessions and the extended self'. Journal of Consumer Research, 15, 139-168.
13. Bergami, M. and Bagozzi, R. P. (2000). 'Self-categorization, affective commitment and group self-esteem as distinct aspects of social identity in the organization'. British Journal of Social Psychology, 39, 555-577.
14. Berle, A. and Means, G. (1932). The Modern Corporation and Private Property. New York: Harcourt, Brace & World.
15. Block, Z. and MacMillan, I. C. (1993). Corporate Venturing. Boston, MA: Harvard Business School Press.
16. Block, Z. and Ornati, O. A. (1987). 'Compensating corporate venture managers'. Journal of Business Venturing, 2, 41-51.
17. Brown, G., Lawrence, T. B. and Robinson, S. L. (2005). 'Territoriality in organizations'. Academy of Management Review, 30, 577-594.
18. Brown, M. P., Sturman, M. C. and Simmering, M. J. (2003). 'Compensation policy and organizational performance: the efficiency, operational, and financial implications of pay levels and pay structure'. Academy of Management Journal, 46, 752-762.
19. Burgelman, R. A. (1983). 'A model of the interaction of strategic behavior, corporate context, and the concept of strategy'. Academy of Management Review, 8, 61-70.
20. Chen, C. C., Greene, P. G. and Crick, A. (1998). 'Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?'. Journal of Business Venturing, 13, 295-316.
21. Cho, M. (1998). 'Ownership structure, investment, and the corporate value: an empirical analysis'. Journal of Financial Economics, 47, 103-121.
22. Chrisman, J. J., Chua, J. H., Kellermanns, F. W. and Chang, E. P. C. (2007). 'Are family managers agents or stewards? An exploratory study in privately held firms'. Journal of Business Research, 60, 1030-1038.
23. Chua, J. H., Chrisman, J. J. and Sharma, P. (1999). 'Defining the family business by behavior'. Entrepreneurship Theory & Practice, 23, 19-39.
24. Cole, M. S., Walter, F. and Bruch, H. (2008). 'Affective mechanisms linking dysfunctional behavior to performance in work teams: a moderated mediation study'. Journal of Applied Psychology, 93, 945-958.
25. Covin, J. G. and Slevin, D. P. (1991). 'A conceptual model of entrepreneurship as firm behavior'. Entrepreneurship Theory and Practice, 16, 7-25.
26. Cruz, C. C., Gomez-Mejia, L. R. and Becerra, M. (2010). 'Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms'. Academy of Management Journal, 53, 69-89.
27. Cummings, L. L. and Anton, R. (1990). 'The logical and appreciative dimensions of accountability'. In Srivasta, S. and Cooperrider, D. (Eds), Appreciative Management and Leadership. San Francisco, CA: Jossey-Bass, 257-286.
28. Daily, C. M., Dalton, D. R. and Rajagopalan, N. (2003). 'Governance through ownership: centuries of practice, decades of research'. Academy of Management Journal, 46, 151-158.
29. Dalton, D. R., Daily, C. M., Certo, S. T. and Roengpitya, R. (2003). 'Meta-analyses of financial performance and equity: fusion or confusion?'. Academy of Management Journal, 46, 13-26.
30. Dalton, D. R., Hitt, M. A., Certo, S. T. and Dalton, C. M. (2007). 'The fundamental agency problem and its mitigation: independence, equity, and the market for corporate control'. Academy of Management Annals, 1, 1-64.
31. Davis, J. H., Schoorman, F. D. and Donaldson, L. (1997). 'Toward a stewardship theory of management'. Academy of Management Review, 22, 20-47.
32. Deci, E. L., Koestner, R. and Ryan, R. M. (1999). 'A meta-analytic review of experiments examining the effects of extrinsic rewards on intrinsic motivation'. Psychological Bulletin, 125, 627-668.
33. Dess, G. G. and Robinson, R. B. (1984). 'Measuring organizational performance in the absence of objective measures: the case of the privately-held firm and conglomerate business unit'. Strategic Management Journal, 5, 265-273.
34. Dess, G. G., Lumpkin, G. T. and McGee, J. E. (1999). 'Linking corporate entrepreneurship to strategy, structure, and process: suggested research directions'. Entrepreneurship Theory & Practice, 23, 85-102.
35. Dirks, K. T., Cummings, L. L. and Pierce, J. L. (1996). 'Psychological ownership in organizations: conditions under which individuals promote and resist change'. In Woodman, R. W. and Pasmore, W. A. (Eds), Research in Organizational Change and Development. Greenwich, CT: JAI Press, 1-23.
36. Dittmar, H. (1992). The Social Psychology of Material Possessions: To Have Is To Be. New York: St Martin's Press.
37. Donaldson, L. (1990). 'The ethereal hand: organizational economics and management theory'. Academy of Management Review, 15, 369-381.
38. Dutton, J. E., Dukerich, J. M. and Harquail, C. V. (1994). 'Organizational images and member identification'. Administrative Science Quarterly, 39, 239-263.
39. Dyer, J. H., Gregersen, H. B. and Christensen, C. (2008). 'Entrepreneur behaviors, opportunity recognition, and the origins of innovative ventures'. Strategic Entrepreneurship Journal, 2, 317-338.
40. Eddleston, K. A. and Kellermanns, F. W. (2007). 'Destructive and productive family relationships: a stewardship theory perspective'. Journal of Business Venturing, 22, 545-565.
41. Eddleston, K. A., Kellermanns, F. W. and Sarathy, R. (2008). 'Resource configuration in family firms: linking resources, strategic planning and technological opportunities to performance'. Journal of Management Studies, 45, 26-50.
42. Eisenhardt, K. M. (1989). 'Agency theory: an assessment and review'. Academy of Management Review, 14, 57-74.
43. Etzioni, A. (1991). 'The socio-economics of property'. Journal of Social Behavior and Personality, 6, 465-468.
44. Ezzamel, M. (2005). Governance, Directors and Boards. Cheltenham: Edward Elgar.
45. Fama, E. F. and Jensen, M. C. (1983). 'Separation of ownership and control'. Journal of Law and Economics, 26, 301-325.
46. Floyd, S. W. and Wooldridge, B. (1997). 'Middle management's strategic influence and organizational performance'. Journal of Management Studies, 34, 465-485.
47. Formanek, R. (1991). 'Why they collect: collectors reveal their motivations'. Journal of Social Behavior and Personality, 6, 275-286.
48. Furby, L. (1978). 'Possession in humans: an exploratory study of its meaning and motivation'. Social Behavior and Personality, 6, 49-65.
49. Geletkanycz, M. A. (1998). 'The salience of "culture's consequences": the effect of cultural values on top executive commitment to the status quo'. Strategic Management Journal, 18, 615-634.
50. Gomez-Mejia, L. R., Haynes, K. T., Nunez-Nickel, M., Jacobson, K. J. L. and Moyano-Fuentes, J. (2007). 'Socioemotional wealth and business risks in family-controlled firms: evidence from Spanish olive oil mills'. Administrative Science Quarterly, 52, 106-137.
51. Guth, W. D. and Ginsberg, A. (1990). 'Corporate entrepreneurship'. Strategic Management Journal, 11, 5-15.
52. Hair, J. F., Black, B., Babin, B., Anderson, R. E. and Tatham, R. L. (2006). Multivariate Data Analysis. Upper Saddle River, NJ: Prentice Hall.
53. Harman, H. H. (1967). Modern Factor Analysis. Chicago, IL: University of Chicago Press.
54. Hill, C. W. and Snell, S. A. (1989). 'Effects of ownership and control on corporate productivity'. Academy of Management Journal, 32, 25-46.
55. Hmieleski, K. M. and Corbett, A. C. (2006). 'Proclivity for improvisation as a predictor of entrepreneurial intentions'. Journal of Small Business Management, 44, 45-63.
56. Hmieleski, K. M. and Corbett, A. C. (2008). 'The contrasting interaction effects of improvisational behavior with entrepreneurial self-efficacy on new venture performance and entrepreneur work satisfaction'. Journal of Business Venturing, 23, 482-496.
57. Hofstede, G. (2001). Culture's Consequences: Comparing Values, Behaviors, Institutions and Organizations across Nations. Thousand Oaks, CA: Sage.
58. Hornsby, J. S., Kuratko, D. F. and Zahra, S. A. (2002). 'Middle managers' perception of the internal environment for corporate entrepreneurship: assessing a measurement scale'. Journal of Business Venturing, 17, 253-273.
59. Hornsby, J. S., Kuratko, D. F., Shepherd, D. A. and Bott, J. P. (2009). 'Managers' corporate entrepreneurial actions: examining perception and position'. Journal of Business Venturing, 24, 236-247.
60. James, W. (1890). The Principles of Psychology. New York: Holt.
61. Jensen, M. C. and Meckling, W. H. (1976). 'Theory of the firm: managerial behavior, agency costs, and ownership structure'. Journal of Financial Economics, 3, 305-360.
62. Judge, T. A. and Ferris, G. R. (1993). 'Social-context of performance evaluation decisions'. Academy of Management Journal, 36, 80-105.
63. Kellermanns, F. W., Walter, J., Lechner, C. and Floyd, S. W. (2005). 'The lack of consensus about strategic consensus: advancing theory and research'. Journal of Management, 31, 719-737.
64. Koch, M. J. and McGrath, R. G. (1996). 'Improving labor productivity: human resource management policies do matter'. Strategic Management Journal, 17, 335-354.
65. Korman, A. H. (1970). 'Toward a hypothesis of work behavior'. Journal of Applied Psychology, 54, 31-41.
66. Kozlowski, S. W. and Klein, K. J. (2000). 'A multilevel approach to theory and research in organizations: contextual, temporal, and emergent processes'. In Klein, K. J. and Kozlowski, S. W. (Eds), Multilevel Theory, Research, and Methods in Organizations. San Francisco, CA: Jossey-Bass, 349-381.
67. Kraut, A. I., Pedigo, P. R., McKenna, D. D. and Dunnette, M. D. (2005). 'The role of the manager: what's really important in different management jobs'. Academy of Management Executive, 19, 122-129.
68. Kumar, N., Stern, L. W. and Anderson, J. C. (1993). 'Conducting interorganizational research using key informants'. Academy of Management Journal, 36, 1633-1651.
69. Kuratko, D. F. (2010). 'Corporate entrepreneurship: an introduction and research review'. In Acs, Z. J. and Audretsch, D. B. (Eds), Handbook of Entrepreneurship Research. New York: Springer, 129-163.
70. Kuratko, D. F., Hornsby, J. S., Naffziger, D. W. and Montagno, R. V. (1993). 'Implementing entrepreneurial thinking in established organizations'. S.A.M. Advanced Management Journal, 58, 28-39.
71. Kuratko, D. F., Ireland, D. R. and Hornsby, J. S. (2004). 'Corporate entrepreneurship behavior among managers: a review of theory, research, and practice'. In Katz, J. A. and Corbett, A. C. (Eds), Advances in Entrepreneurship, Firm Emergence and Growth. Bingley: Emerald Group Publishing, 7-45.
72. Kuratko, D. F., Ireland, R. D., Covin, J. G. and Hornsby, J. S. (2005). 'A model of middle-level manager's entrepreneurial behavior'. Entrepreneurship Theory & Practice, 29, 699-716.
73. Lawler, E. E. and Hall, D. T. (1970). 'Relationship of job characteristics to job involvement, satisfaction, and intrinsic motivation'. Journal of Applied Psychology, 54, 305-312.
74. LeBreton, J. M. and Senter, J. L. (2008). 'Answers to 20 questions about interrater reliability and interrater agreement'. Organizational Research Methods, 11, 815-852.
75. Ling, Y. and Kellermanns, F. W. (2010). 'The effects of family firm specific resources on TMT diversity: the moderating role of information exchange frequency'. Journal of Management Studies, 47, 322-344.
76. Liu, J., Wang, H., Hui, C. and Lee, C. (2012). 'Psychological ownership: how having control matters'. Journal of Management Studies, 49, 869-895.
77. Love, L. G., Priem, R. L. and Lumpkin, G. T. (2002). 'Explicitly articulated strategy and firm performance under alternative levels of centralization'. Journal of Management, 28, 611-627.
78. Lumpkin, G. T. and Dess, G. G. (1996). 'Clarifying the entrepreneurial orientation construct and linking it to performance'. Academy of Management Review, 21, 135-172.
79. MacDougall, P. and Robinson, R. B. (1990). 'New venture strategies: an empirical identification of eight "archetypes" of competitive strategies for entry'. Strategic Management Journal, 11, 447-468.
80. Mael, F. and Ashforth, B. E. (1992). 'Alumni and their alma mater: a partial test of the reformulated model of organizational identification'. Journal of Organizational Behavior, 13, 103-123.
81. McCracken, G. (1986). 'Culture and consumption: a theoretical account of the structure and movement of the cultural meaning of consumer goods'. Journal of Consumer Research, 13, 71-84.
82. McDonald, M. L., Khanna, P. and Westphal, J. D. (2008). 'Getting them to think outside the circle: corporate governance, CEOs' external advice networks, and firm performance'. Academy of Management Journal, 51, 453-475.
83. Meyer, J. P. and Allen, N. J. (1997). Commitment in the Workplace: Theory, Research and Application. Thousand Oaks, CA: Sage.
84. Morck, R. (1996). 'On the economics of concentrated ownership'. Canadian Business Law Journal, 26, 63-85.
85. Mowday, R. T., Porter, L. W. and Steers, R. M. (1982). Employee-Organization Linkages: The Psychology of Commitment, Absenteeism, and Turnover. New York: Academic Press.
86. Ng, K.-Y. and Chan, K.-Y. (2008). 'Personality and leader effectiveness: a moderated mediation model of leadership self-efficacy, job demands, and job autonomy'. Journal of Applied Psychology, 93, 733-743.
87. Nonaka, I. and Takeuchi, H. (1995). The Knowledge Company: How Japanese Companies Create the Dynamics of Innovation. New York: Oxford University Press.
88. Nunnally, J. C. and Bernstein, I. H. (1994). Psychometric Theory. New York: McGraw-Hill.
89. Nyberg, A. J., Fulmer, I. S., Gerhart, B. and Carpenter, M. A. (2010). 'Agency theory revisited: CEO return and shareholder interest alignment'. Academy of Management Journal, 53, 1029-1049.
90. O'Driscoll, M. P., Pierce, J. L. and Coghlan, A. M. (2006). 'The psychology of ownership: work environment structure, organizational commitment, and citizenship behaviours'. Group & Organization Management, 31, 388-416.
91. Oppenheim, A. N. (1966). Questionnaire Design and Attitude Measurement. New York: Free Press.
92. Osterloh, M. and Frey, B. S. (2000). 'Motivation, knowledge transfer, and organizational forms'. Organization Science, 11, 538-550.
93. Pearce, J. A., Kramer, T. R. and Robbins, D. K. (1997). 'Effects of managers' entrepreneurial behavior on subordinates'. Journal of Business Venturing, 12, 147-160.
94. Pierce, J. L. and Furo, C. A. (1990). 'Employee ownership: implications for management'. Organizational Dynamics, 18, 32-43.
95. Pierce, J. L. and Jussila, I. (2010). 'Collective psychological ownership within the work and organizational context: construct introduction and elaboration'. Journal of Organizational Behavior, 31, 810-834.
96. Pierce, J. L., Rubenfeld, S. A. and Morgan, S. (1991). 'Employee ownership: a conceptual model of process and effects'. Academy of Management Review, 16, 121-144.
97. Pierce, J. L., Van Dyne, L. and Cummings, L. L. (1992). 'Psychological ownership: a conceptual and operational examination'. Southern Management Association Proceedings, Valdosta, GA.
98. Pierce, J. L., Kostova, T. and Dirks, K. T. (2001). 'Toward a theory of psychological ownership in organizations'. Academy of Management Review, 26, 298-310.
99. Pierce, J. L., Kostova, T. and Dirks, K. (2003). 'The state of psychological ownership: integrating and extending a century of research'. Review of General Psychology, 7, 84-107.
100. Pierce, J. L., O'Driscoll, M. P. and Coghlan, A. (2004). 'Work environment structure and psychological ownership: the mediating effects of control'. Journal of Social Psychology, 144, 507-534.
101. Podsakoff, P. M. and Organ, D. W. (1986). 'Self-reports in organizational research: problems and perspectives'. Journal of Management, 12, 531-544.
102. Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y. and Podsakoff, N. P. (2003). 'Common method biases in behavioral research: a critical review of the literature and recommended remedies'. Journal of Applied Psychology, 88, 879-903.
103. Porteous, J. D. (1976). 'Home: the territorial core'. Geographical Review, 66, 383-390.
104. Preacher, K. J. and Hayes, A. F. (2008a). 'Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator models'. Behavior Research Methods, 40, 879-891.
105. Preacher, K. J. and Hayes, A. F. (2008b). 'Contemporary approaches to assessing mediation in communication research'. In Hayes, A. F., Slater, M. D. and Snyder, L. B. (Eds), The Sage Sourcebook of Advanced Data Analysis Methods for Communication Research. Thousand Oaks, CA: Sage, 13-54.
106. Preacher, K. J., Rucker, D. D. and Hayes, A. F. (2007). 'Addressing moderated mediation hypotheses: theory, methods, and prescriptions'. Multivariate Behavioral Research, 42, 185-227.
107. Price, L. L., Arnould, E. J. and Folkman Curasi, C. (2000). 'Older consumers' disposition of special possessions'. Journal of Consumer Research, 27, 179-201.
108. Pugh, W. N., Oswald, S. L. and Jahera, J. S. (2000). 'The effect of ESOP adoptions on corporate performance: are there really performance changes?'. Managerial and Decision Economics, 21, 167-180.
109. Rajan, R. G. and Zingales, L. (1998). 'Power in a theory of the firm'. Quarterly Journal of Economics, 113, 387-432.
110. Rauch, A., Wiklund, J., Lumpkin, G. T. and Frese, M. (2009). 'Entrepreneurial orientation and business performance: an assessment of past research and suggestions for the future'. Entrepreneurship Theory & Practice, 33, 761-787.
111. Redmond, M. R., Mumford, M. D. and Teach, R. (1993). 'Putting creativity to work: effects of leader behavior on subordinate creativity'. Organizational Behavior and Human Decision Processes, 55, 120-151.
112. Rogoff, E. G. and Heck, R. K. Z. (2003). 'Evolving research in entrepreneurship and family business: recognizing family as the oxygen that feeds the fire of entrepreneurship'. Journal of Business Venturing, 18, 559-566.
113. Ross, S. (1973). 'The economic theory of agency: the principal's problem'. American Economic Review, 63, 134-139.
114. Rousseau, D. M. and Shperling, Z. (2003). 'Pieces of the action: ownership and the changing employment relationship'. Academy of Management Review, 28, 553-570.
115. Schulze, W. S., Lubatkin, M. H., Dino, R. N. and Buchholtz, A. K. (2001). 'Agency relationships in family firms: theory and evidence'. Organization Science, 12, 99-116.
116. Shane, S. A. and Venkataraman, S. (2000). 'The promise of entrepreneurship as a field of research'. Academy of Management Review, 25, 217-226.
117. Sharma, P. (2004). 'An overview of the field of family business studies: current status and directions for the future'. Family Business Review, 17, 1-36.
118. Sharma, P. and Chrisman, J. J. (1999). 'Toward a reconciliation of the definitional issues in the field of corporate entrepreneurship'. Entrepreneurship: Theory & Practice, 23, 11-27.
119. Shepherd, D. A., McMullen, J. S. and Jennings, P. D. (2007). 'The formation of opportunity beliefs: overcoming ignorance and reducing doubt'. Strategic Entrepreneurship Journal, 1, 75-95.
120. Smith, K. G. and Di Gregorio, D. (2002). 'Bisociation, discovery and the role of entrepreneurial action'. In Hitt, M. A., Ireland, R. D., Camp, S. M. and Sexton, D. L. (Eds), Strategic Entrepreneurship: Creating a New Mindset. Oxford: Blackwell Publishers, 130-150.
121. Spreitzer, G. M. (1995). 'Psychological empowerment in the workplace - dimensions, measurement, and validation'. Academy of Management Journal, 38, 1442-1465.
122. Steel, P. and Konig, C. J. (2006). 'Integrating theories of motivation'. Academy of Management Review, 31, 889-913.
123. Takahashi, N. (2000). 'The emergence of generalized exchange'. American Journal of Sociology, 105, 1105-1134.
124. Tan, J. and Peng, M. W. (2003). 'Organizational slack and firm performance during economic transitions: two studies from an emerging economy'. Strategic Management Journal, 24, 1249-1263.
125. Tosi, H. L., Gomez-Mejia, L. R., Loughry, M. L., Werner, S., Banning, K., Katz, J., Harris, R. and Silva, D. (1999). 'Managerial discretion, compensation strategy, and firm performance: the case for ownership structure'. In Ferris, G. (Ed.), Research in Personnel and Human Resources Management. Stamford, CT: JAI Press, 163-209.
126. Tosi, H. L., Werner, S., Katz, J. P. and Gomez-Mejia, L. R. (2000). 'How much does performance matter? A meta-analysis of CEO pay studies'. Journal of Management, 26, 301-339.
127. Van Dyne, L. and Pierce, J. L. (2004). 'Psychological ownership and feelings of possession: three field studies predicting employee attitudes and organizational citizenship behaviour'. Journal of Organizational Behaviour, 25, 439-459.
128. Vroom, V. (1964). Work and Motivation. New York: Wiley.
129. Werner, S., Tosi, H. L. and Gomez-Mejia, L. R. (2005). 'Organizational governance and employee pay: how ownership structure affects the firm's compensation strategy'. Strategic Management Journal, 26, 377-398.
130. White, R. W. (1959). 'Motivation reconsidered: the concept of competence'. Psychological Review, 66, 297-330.
131. Williamson, O. E. (1981). 'The economics of organization: the transaction cost approach'. American Journal of Sociology, 87, 548-577.
132. Williamson, O. E. (1985). The Economic Institutions of Capitalism. New York: Free Press.
133. Wiseman, R. M. and Gomez-Mejia, L. R. (1998). 'A behavioral agency model of managerial risk taking'. Academy of Management Review, 23, 133-153.
134. Zahra, S. A. (1991). 'Predictors and financial outcomes of corporate entrepreneurship: an exploratory study'. Journal of Business Venturing, 6, 259-286.
135. Zahra, S. A. (1995). 'Corporate entrepreneurship and financial performance: the case of management leveraged buyouts'. Journal of Business Venturing, 10, 225-247.
136. Zahra, S. A., Jennings, D. F. and Kuratko, D. F. (1999). 'The antecedents and consequences of firm-level entrepreneurship: the state of the field'. Entrepreneurship Theory and Practice, 24, 45-63.
137. Zhao, H., Hills, G. E. and Seibert, S. E. (2005). 'The mediating role of self-efficacy in the development of entrepreneurial intentions'. Journal of Applied Psychology, 90, 1265-1272.