题目
Which of the following represents a principal–agent conflict between shareholders and management?
选项
A.Risk tolerance
B.Multiple share classes
C.Accounting and reporting practices
答案
A
解析
A is correct. Shareholder and manager interests can diverge with respect to risk tolerance. In some cases, shareholders with diversified investment portfolios can have a fairly high risk tolerance because specific company risk can be diver- sified away. Managers are typically more risk averse in their corporate decision making to better protect their employment status. 这道题目问的是下列哪项代表股东与管理层之间的委托代理冲突?在风险承受力方面，股东和经理人的利益可能存在分歧。在某些情况下，多元化投资组合的股东可能具有较高的风险承受能力，因为特定的公司风险可以分散。在企业决策中，管理者通常更倾向于规避风险，以更好地保护自己的就业状况。因此A选项正确