Question: A complete contract between shareholders and managers ( O would be a cheap contract to write and a very expensive contract to monitor. O all

A complete contract between shareholders and managers ( O would be a cheap contract to write and a very expensive contract to monitor. O all of the options. O would specify exactly what the manager will do under each of all possible future contingencies. O is difficult but possible to be constructed in practice. O would eliminate any conflicts of interest (and managerial discretion), but it is not perfect

A complete contract between shareholders and managers ( would be a cheap contract to write and a very expensive contract to monitor. all of the options. would specify exactly what the manager will do under each of all possible future contingencies. is difficult but possible to be constructed in practice. would eliminate any conflicts of interest (and managerial discretion), but it is not perfect

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