Abstract: Firstly, the present article reviewed the conceptualization, empirical studies of leader-member exchange. Then, from dual, social exchange, cross-cultural, and exchange network’s perspectives, discussed the empirical research of dual mechanism of the effects of leader-member exchange on both leaders and subordinates’ work-related outcomes, which included: (1) studying of the effects of leader-member exchange on both leaders and subordinates’ work-related outcomes from dual perspective; (2) exploring the mechanism of the effects of leader-member exchange on both leaders and subordinates based on social exchange theory; (3) testing the individual and organizational conditions which might moderate the relationship between leader-member exchange and both leaders and subordinates’ work-related outcomes. Based on reviewing of the relevant literature, the authors put forth specific research hypotheses, and finally indicated the future research domains and trends of the dual mechanism of the effects of leader-member exchange on both leaders and subordinates’ work-related outcomes.

Key words: leader-member exchange, work-related outcome, social exchange, effect mechanism