There can be agency conflicts between stockholders and managers as well as between stockholders (through managers) and creditors. Which of the

There can be agency conflicts between stockholders and managers as well as between stockholders (through managers) and creditors.  
Which of the following is correct?  
*A manager can avoid agency conflicts by retaining at least 51% of the firm’s common stock.
*Agency conflicts are avoided when the firm has under 10 employees.
*Creditors have no way of protecting themselves against overly risky investments that a company may make.
*Managers may make decisions that are in their own best interests rather than maximizing share price.
*None of the above
 
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