Bernie-Madoff-business-and-finance-homework-help

Agency theory focuses on the conflicts surrounding agency relationships, the most common finance example being shareholders (principals) and management (agents). However, an agency relationship could exist between a wide range of other parties. The key is that one party (the agent) is acting on behalf of the other party (the principal), and therefore, is expected to act in the best interest of the principal. (However, we know from the text that isn’t always the case!)

Have you heard of Bernie Madoff? If not, google him!

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I want you to tell me (in your own words, of course) the story of Bernie Madoff. How does this relate to agency theory? Be sure to identify the principal(s) and agent(s) to demonstrate your understanding of agency theory. Feel free to include other, more recent, examples of agency theory issues in your post! Cite any sources you use, and do not copy/paste information.

 
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