According to a study $($Callahan and Mauboussin$),$ when does compensation conflict tend to occur?

a$.$ When it limits compensation cost to levels that maximize the wealth of shareholders

b$.$ When it makes management focus on long$-$term value maximization rather than earnings per share

c$.$ When it provides strong incentives to create shareholder value

d$.$ When management has most of their wealth in this one company, so they may take too little risk

e$.$ When it helps retain key talent