AGENCY COSTS Definition

AGENCY COSTS is the incremental costs of having an Agent make decisions for a principal.

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JOINT STOCK COMPANY is a company that has some features of a corporation and some features of a partnership. This type of company has access to the liquidity and financial reserves of stock markets as a corporation, however, as in a partnership; the stockholders are liable for company debts and have additional restrictions of a partnership.

SWAPTIONS are over-the-counter options on swaps.

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