In the wheel of retailing, a retailer becomes vulnerable when it places too much reliance on its price (versus its image)

Licensing is NOT attractive to which of the following firms?

A. Firms lacking the capital to develop operations overseas B. Firms unwilling to commit substantial financial resources to an unfamiliar market C. Firms requiring tight control of operations for realizing experience curve and location economies D. Firms wanting to explore markets but prohibited from doing so by investment barriers E. Firms with intangible properties with business applications that it does not want to develop itself

Which of the following do not have a principal-agent conflict?

A) Shareholders and the Board of Directors B) The Board of Directors and the CEO C) Shareholders and bondholders