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Excerpt from Determinants of Information Technology Investments: Effects of Top Management Compensation and Stock Ownership The fundamental problem of an agency relationship is the nonalignment of goals between the two parties constituting the relationship. The agent having the locus of control will simply make decision maximizing his or her own welfare, a process which may not necessarily coincide with the optimization of the principal's utility (ross, 1973; Jensen and Meckling, To ensure goal congruence, the principal can engage in costly albeit imperfect monitoring. Mitigating mechanisms and bonding schemes can also alleviate the agency problem. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.