In Closely Held Firms, the Manager-Stockholder Conflict Is

In closely held firms, the manager-stockholder conflict is

A) worse than in the larger firm because there is no incentive for the individual stockholder to monitor managers.
B) the same as in publicly held firms.
C) less severe than in the larger firm because there is an incentive for the major stockholder to monitor managers.
D) less pronounced than in large public companies, because the manager is the owner.