30 marks

Part A Exercise 1 (15-20 Min.) Explain the situation depicted in the cartoon with reference to agency theory. THE SHAREHOLDER MEETING TURNED UGLY WHEN I SAID WE USED ALL THE PROFITS TO GIVE OURSELVES STOCK OPTIONS scottadams@aol.com THEY DON'T UNDERSTAND THAT I WOULDN'T WORK AS HARD IF ALL I GOT WAS MY MILLION DOLLAR BASE SALARY. I'D BARELY HAVE THE ENERGY TO SPANK MY SECRETARY TOO MUCH INFO. 10-1-040 2004 Scott Adams, Inc./Dist. by UFS, Inc. www.dilbert.com