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Agency theory Definition from Business & Finance Dictionaries & Glossaries
The analysis of principal-agent relationships , in which one person, an agent, acts on behalf of another person, a principal.
Copyright © 2000, Campbell R. Harvey. All Rights Reserved.Agency theory Definition from Encyclopedia Dictionaries & Glossaries
In political science and economics, the principal–agent problem or agency dilemma treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent, such as the problem of potential moral hazard and conflict of interest, because the principal is hiring the agent to pursue the principal's interests.
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