PEOPLE.IDEAS.PERFORMANCE

35 The two agents had considerable, hardly replaceable intellectual and social capital related to travel arrangement activities. There was no on-going control by the principal, but reviewing the mails and then other internal communication contents eventually made the principal realize that the employees had not represented his interests for some time. It caused such a substantial loss of trust that despite the pregnancy of one of the employees, they used the option of termination by extraordinary notice. It involved considerable risks as well because the work of the dismissed employees could be substituted only from internal resources due to the upcoming season, but they lacked experience in the given field. This further increased agency costs as their work had to be monitored initially in order for the firm to maintain its stability. C.X. positively evaluated that the relationship between the permanent agent D.X. and the founder is good. In this case, there is a decrease in agency cost since the goals of the principal and the agent are common. „ The trust is of 100%, it is not a concern that […] oh, won’t he quit for this? Shouldn’t we caress his soul a bit? Because he has worked really hard, and we can’t lose him as an employee, so these additional rounds are not involved, this helps the entire process. That everybody knows the goal is common without question. ”(C.X.)B.X. said the following about the same topic in general: „… an outsider, you know, has working hours, while we don’t have working hours ”. Family members thus represent the interest of the company at any time. It certainly does not mean that they are always in absolute agreement, but the principal can be sure that if something is decided on, the agent, who is a family member in this case, will represent his and the firm’s interest. All four interviews mention that they often tal k about the business at family lunch and at meetings outside office hours. It provides an opportunity to plan strategies and focus on innovation potentials instead of daily happenings, but it also makes it more difficult to communicate with those who are present but not involved in the business. It can ensure the level of agreement and trust which also stabilizes the marital relationship between the founders. B.X. elaborates on this as follows: „ People usually ask me how my husband tolerates that I’m away s o much. You know, I spend about 110 nights of 365 days of the year away from home. And I’m sure he wouldn’t tolerate it if we didn’t ‘grind in one mill’, but as we both head to the same direction, he doesn’t even think about not tolerating it.” Since the s tudied firm has a succession plan and the members evaluated each other’s work positively in every case, the phenomenon of entrenchment (Herrero, 2011) does not emerge. On this basis, we can assume that generation change will successfully take place at the time planned. 67(:$5'6+,3 7+(25< Stewardship theory stands up for the above mentioned behavior patterns. While agency theory fits in the paradigm of economics, stewardship theory originates from sociology and psychology (Hernandez, 2012). Contrary the approach of agency theory, where the agent and the principal seek their own interest like a homo economicus, in stewardship theory the aspects of long-term vision and sustainable development gain major focus. Accordingly, the goal of the agent is to do a good job and to properly manage the assets in the interest of the firm (Donaldson & Davis, 1991). It requires strong connections between the actors involved and they should relate to the same social network. These criteria are usually given in the case of family businesses (Christman et al. 2004). Donaldson and Davis (1991) emphasize that even if the manager and the owner cannot be the same person, it is still important to give the manager a motivation package in the long term besides a basic salary. Its form is not specified; it can be a bonus, a target bonus, a share,