AGENCY THEORY IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS

Abstract

This study aims to find out the agency theory perspective with special emphasis on the agency problem in public-private partnership (PPP) projects. In this study, we have reviewed relevant articles about agency theory application in PPP projects to specify the problem, gap, and application of the principal-agent concept. PRISMA (Preferred items reporting and systematic meta-analysis) has been used for the selection of articles. The study provides a fair review of the agency theory concept along with the agency problems in PPP projects to formulate a strong foundation of relationships amongst partners. The study finding will help practitioners and policymakers to work on PPP with a better comprehension of agency theory.