Question 20 (1 point) Which of the following statements is true with respect to the agency problem in the U.S. and foreign countries? There is no reason to believe that the severity of the agency problem differs between foreign countries and the U.S. Due to the focus on stake holders' wealth maximization in the U.S., the agency problem is more severe in other countries and less severe in the U.S. Due to the relatively small percentage of individual ownership in foreign countries, the agency problem is less severe in other countries and more severe in the U.S. Due to the fact that families and financial institutions own most corporate shares in the U.S., he agency problem is more severe in other countries and less severe in the U.S. None of the statements is correct