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Define each of the following terms IN YOUR OWN WORDS: a. Agent; principal; agency relationship b. Agency cost c. Basic types of agency conflicts d.

Define each of the following terms IN YOUR OWN WORDS: a. Agent; principal; agency relationship b. Agency cost c. Basic types of agency conflicts d. Managerial entrenchment; nonpecuniary benefits e. Greenmail; poison pills; restricted voting rights f. Stock option; ESOP

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