Katarzyna Kania, Katarzyna Najbar
The Significance of Cooperation between the Developer and the Real Estate Manager in Light of Agency Theory
Purpose - The paper discusses the problem of the significance of cooperation between both entities in respect of the implementation of projects which will make it possible to appropriately arrange their cooperation, thus enabling them to achieve the assumed objectives of their activity.
Design/methodology/approach - The research was conducted among selected real estate development companies.
Findings - Taking into consideration different objectives of developers' and real estate management firms' activity, we should provide for different relationships of those entities with the final recipient of developer products, namely the real estate user.
Research implications - From a theoretical perspective, the relations between participants of ventures are explained by agency theory, which treats an enterprise as a network of contracts concluded between individual participants of a given venture. It concerns attitudes of the stakeholders of a given project, which depend, among others, on benefits they want to gain.
Keywords: developer; real estate manager; agency theory; investment process
JEL codes: L14, L21, L85
Article type: review article
CITATION (APA): Kania, K., Najbar, K. (2021). The Significance of Cooperation between the Developer and the Real Estate Manager in Light of Agency Theory. World of Real Estate Journal, 115(1), 80-98.
DOI: https://doi.org/10.14659/WOREJ.2021.115.05
