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agency problem
The difficulties encountered when a principal delegates a task to an agent. The agency problem arises when the principal and the agent have different objectives and there is asymmetric information ...
agency relationship
The explicit and implicit contractual relationship between the principal, as owner, and the agent, as manager. See agency problem.
asymmetric information
1 An aspect of the agency problem in which managers have superior information to shareholders regarding the state of the shareholders' investment. See signalling hypothesis.2 The situation in which ...
