The quot;agency problemquot; arises when: owners manage the company on their own behalf. there is no separation of ownership and control in a…

The “agency problem” arises when:

owners manage the company on their own behalf.

there is no separation of ownership and control in a company.

managers act in their own interest, rather than in the interest of shareholders.

shareholders act in their own interest, rather than in the interest of the board.

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