As you are aware that the management of a company is supposed to work in the best interest of the shareholders, however in practice it may pursue its own agenda and that leads to the agency conflicts. Since corporates are legal entities and managed by natural persons and they collectively called Board of Directors.
source https://www.caclubindia.com/articles/case-study-national-spot-exchange-limited-46896.asp
source https://www.caclubindia.com/articles/case-study-national-spot-exchange-limited-46896.asp
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