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What is meant by agency relationships and agency costs

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Reference no: EM133024624

Please answer the following:

Explain what is meant by agency relationships and agency costs.
Explain why management may tend to pursue goals other than shareholder wealth maximisation.
Compare the potential for agency problems in sole proprietorship, partnerships, and corporations.
How can agency problems be reduced? Please provide three possible solutions.

Reference no: EM133024624

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