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As large investment banks converted from partnerships to corporations, the separation of ownership from control had the potential to lead to
A) a moral hazard problem resulting in a principal-agent problem.
B) an adverse selection problem resulting in a principal-agent problem.
C) a reduction in moral hazard due to the elimination of the principal-agent problem.
D) a reduction in adverse selection due to the elimination of the principal-agent problem.
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Money, Banking, and the Financial System

Money, Banking, and the Financial System


Edition: 3rd
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