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Agency Costs

   Also found in: Wikipedia 0.01 sec.
Agency costs
The incremental costs of having an agent make decisions for a principal.
Agency Costs
Costs that arise from the inefficiency of a relationship between an agent and a principal. In a publicly-traded company, agency costs may arise because the company's executives (the agents) may act in their own interest in a way that is detrimental to shareholders (the principals). For example, they may raise their own salaries to an unrealistic level. Agency costs are best reduced by providing appropriate incentives to align the interests of both agents and principals.
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