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20. Agency theory would imply that conflicts are more likely to occur between management and shareholders when the chairman of the board of directors is

20. Agency theory would imply that conflicts are more likely to occur between management and shareholders when

the chairman of the board of directors is also the chief executive officer (CEO).

the company is owned and operated by the same person.

management acts in the best interests of maximizing shareholder wealth.

the board of directors exerts strong and involved oversight of management.

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