This research work is aimed at determining whether there are any informational asymmetriesbetween the presidents and the members of collegial bodies in Chilean universities. The frameworkof agency theory, in which the president of a university plays the role of agent while thecollegial body serves as principal, assumes that this kind of asymmetry exists. The methodologywas based on a closed-ended questionnaire where respondents had to demonstrate theirknowledge of supposedly basic topics related to management performance. The results providecompelling evidence confirming the agency theory, which contends that an agent holds moreinformation than a member of a collegial body, and, if internal, the member’s knowledgeexceeds that of external members.