agency costs
The negative effects described in *agency theory of an *agent acting in self-interest to the detriment of a *principal. For example, managers in a corporation may seek to enhance their own status and remuneration in defiance of the corporation’s best interests. Inefficiencies arising from discrepancies between the self-interests of *principals and *agents may be qualitative or quantitative.

Auditor's dictionary. 2014.

Look at other dictionaries:

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