Agency Problem
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Agency Problem is a situation in which a firms' top managers (i.e., the "agents" of the firms' owners) do not act in the best interests of the shareholders.
Definition
According to the Strategic Management by Parnell (4th edition),
- Agency Problem. A situation in which a firms' top managers (i.e., the "agents" of the firms' owners) do not act in the best interests of the shareholders.
