According to Shankman $(1999),$ two features make agency relations special. One of these is the inherent conflict of interest between shareholders and managers. What is the other?

According to Shankman $(1999),$ two features make agency relations special. One of these is the inherent conflict of interest between shareholders and managers. What is the other?

Short$-$term focus of the ownership goals.

Informational asymmetry between principal and agent.

Limited communication between owners and managers.

Large differences in defined rights and obligations