Lindstädt, Hagen - Institut für Angewandte Betriebswirtschaftslehre, … - 2006
the quality of the decision made by the board. If, as will be assumed in the following, the shareholders are only …-term financial success of the decision that he has delegated to the managers.The shareholders are faced with either making a decision … decisions, i.e. improving the company's profitability, because of managements' superior knowledge or qualification. On the other …