Among solutions to the agency problem in publicly-held corporations are all of the following EXCEPT

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Bonuses based on short-term results can actually exacerbate the agency problem by encouraging managers to focus only on short-term performance and neglect long-term goals. Stock options, performance shares, and cash bonuses tied to goal achievement all align the interests of managers and shareholders by tying compensation to the overall success of the company rather than just short-term results.

Among Solutions to the Agency Problem in Publicly-Held Corporations Are