REASONS, FACTORS AND CONSEQUENCES OF AGENCY PROBLEM IN MODERN CONDITIONS

This article is about agency relationship which formed due to the delegation of part of the powers of shareholders to employees. Also, this article is about the emergence of an agency problem which is aggravated by behavioral and environmental factors. The main reason of the agency problem is the separation of ownership from control. The divergence of interests between owners and managers leads to an increase in agency costs in this area. The central issue in the theory of agency relations is agency costs. The purpose of the study is to analyze the history of the development of the theory of corporate governance and the theory of agency relations. The relevance of the agency problem and the problem of corporate governance lies in the study of theoretical and practical research of agency costs, sources and factors which influence on the investment activities of the company. As a result of the study, the emergence and formation of the concept of agency costs were considered