Talk:Agency cost

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I removed;

"These costs (there are three) were identified by Michael Jensen and William Meckling in 1976; (1) Monitoring expenditure by principle (2) Bonding costs incurred by agents (3) The residual loss

Berle and Means first identified these costs in the 1920s and 30s, while observing the structure of US organisations."

Jensen & Meckling '76 was the first and very influential paper on this subject, but later research showed that there are more than just those three costs. I added the various actors and their objectives, but every actor requires a more elaborated part. I just briefly mentioned them and the most important aspects of them. Please go into details.