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In this paper, you are provided with a literature by Byrd, Parrino and Pritsch 1998, you are required to discuss the types of conflicts between Managers and Debt Holders and the various mechanisms that can be adopted to reduce the conflicts of interest drawing insights from relevant theories and literature.
The separation of ownership and control in a modern corporation often requires the delegation of significant decision-making authority to professional managers, which introduces the possibility that managers will have incentives to make decisions that benefit them at the expense of shareholders” (Byrd, Parrino and Pritsch, 1998).
Discuss the types of Manager – Debt holder (i.e lender) conflict that exist and the various mechanisms that can be used/implemented to mitigate/reduce those problems/conflicts of interests drawing insights from relevant theories and empirics from the literature.
750 Words.
