Resolving Principal–Agent Conflicts in Decentralized Strategic Business Units: A Residual Claims Realignment Framework for Multinational Conglomerates
Keywords:
principal–agent theory, strategic business unit governance, residual claims realignment, decentralized multinational conglomerates, managerial incentive design, transaction cost economics, dynamic capabilities, corporate governance efficiency, inter-unit resource coordinationAbstract
Principal–agent misalignment within decentralized strategic business units (SBUs) of multinational conglomerates imposes measurable governance inefficiencies, manifesting as suboptimal capital allocation, managerial rent-seeking, and erosion of competitive positioning. This study develops a Residual Claims Realignment Framework (RCRF) grounded in agency theory, transaction cost economics, and dynamic capabilities literature. Employing a mixed-methods design across 214 SBUs drawn from 38 multinational conglomerates in Europe and Southeast Asia, the study combines structural equation modeling with semi-structured executive interviews. Findings demonstrate that equity-linked incentive structures, combined with modular performance accountability systems, reduce dysfunctional managerial discretion by 34.7% and improve inter-unit resource coordination efficiency by 28.3%. The RCRF offers actionable governance prescriptions for corporate strategists navigating decentralization trade-offs in volatile macro-institutional environments.
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