Discuss the below in detail:
Q: Agency theory has been criticizedfor assuming that managers,left on their own, will behave in ways that reduce the wealth of outsideequity holders when, in fact, mostmanagers are highly responsiblestewards of the assets they control.This alternative view of managers hasbeen called stewardship theory. Why would you agree with this criticism ofagency theory?
BOOK: Strategic Management and Competitive Advantage Concepts and Cases - William Hesterly