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999			_c52328 _d52328
003			OSt
005			20190731131019.0
008			190731b ||||| |||| 00| 0 eng d
100			_aSubramanian,, S. _933990
245			_aThe Emergence of Principal–Agent– Principal Model in India: The Case of Infosys Ltd
300			_a120-130 p.
520			_aThe existing corporate governance literature focuses on a principal–agent model or a principal–principal model which demonstrate two-way conflicts. This study seeks to understand the emergence of a three-way principal–agent–principal conflict between the controlling/promoter shareholder, the professional manager and the minority shareholders in emerging market family-controlled firms which are professionalizing their management. Using the case study method, this article proves that in the listed emerging market firms, the professional manager gets empowered under a specific internal governance structure as the institutions of external governance become effective. This leads to a three-way principal–agent–principal conflict between the controlling/promoter shareholder, the professional manager and the minority shareholders. A principal–agent–principal model in the emerging markets changes the very basics of corporate governance framework and opens up new research avenues in the field of corporate governance. The evolvement of the three-way conflict might call for unique regulations to deal with corporate governance problems in the emerging markets.
653			_aCorporate Governance
653			_aemerging markets
653			_aProfessional Managers
653			_aPrinciple-agent conflicts
773	0		_050183 _975311 _aSage Publication _dNew Delhi Sage Publication _o55510597 _tIIM KOZHIKODE SOCIETY AND MANAGEMENT REVIEW
942			_2ddc _cJA-ARTICLE