An Application of the Agency Theory to Co-Operative Housing Delivery in Lagos State

Abstract

The purpose of this study is to determine the level of alignment between co-operative leaders and members in the key housing supply decision-making process. The study utilises the Agency Theory as the theoretical framework. The research design is quantitative, with a survey of 600 co-operative leaders and 300 co-operative members, identified through systematic random sampling and captive audience sampling strategies respectively. The survey instrument was a close-ended questionnaire that measured variables relating to housing decision making processes. The underlying hypothesis guiding this study was that there are no differences in the responses of co-operative leaders and co-operative members with respect to the level of member involvement in land acquisition decision-making. Analysis was carried out using independent sample t-tests. It was discovered that co-operative members reported lower levels of member involvement in the process of land acquisition. This implies some weakness in the internal governance of co-operative societies, and it is recommended that co-operative governance is strengthened by regulatory bodies, co-operative leaders improve their engagement with members and thirdly that academia support the sector by translating and communicating co-operative governance theories to action points.