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Thispaper critically examines the application of principal agent theory tocontractual hiring arrangements of employees in public sector organizations asa contemporary alternative recruitment strategy. Globally, developed anddeveloping nations within the public sector are seeking ways where they canreduce public expenditure and debt while at the same time attempting to increaseproductivity and efficiency gains by using cost containment initiatives. Thus,private sector methods of outsourcing and contracting are identified as moreeconomically feasible strategies given global recessions and other budgetaryconstraints within these public agencies. Hence, public management andadministration scholars have alluded to the catchy phrase of -doing more withless- see 1. Thus, the paper from a theoretically exploratory perspectiveanalyzes how principal agent theory can be applied to the hiring of contingentemployees within this sector and the agency problems that may likely arise as aresult of these arrangements and their probable economic implications for thesaid sector.

KEYWORDS

Principal-Agent Theory, Agency Problems, Moral Hazard, Asymmetric Information, Adverse Selection

Cite this paper

Roach, C. 2016 An Application of Principal Agent Theory to Contractual Hiring Arrangements within Public Sector Organizations. Theoretical Economics Letters, 6, 28-33. doi: 10.4236-tel.2016.61004.





Autor: Charlene M. L. Roach

Fuente: http://www.scirp.org/



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