Governance Strategies Appointment ·Selection Rights ·Removal Initiation Decision rights Ratification Trusteeship(e.g.auditor,independent director Agent Incentives.Reward(a sharing rule,pay-for-performance regime) Monetary Reputation Incentive ConsciencelGovernance Strategies • Selection • Removal Appointment Rights • Initiation • Ratification Decision rights • Trusteeship (e.g. auditor, independent director ) • Reward(a sharing rule, pay-for-performance regime) Agent Incentives Monetary Incentive Reputation Conscience