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Discuss how agency problems can develop between shareholders and bondholders when the firm is experiencing financial distress.
Collective
A term referring to a group or assembly of individuals who share common interests, goals, or identities, acting as a whole rather than as separate individuals.
Leader
An individual who guides or influences a group towards achieving its objectives, often characterized by the ability to motivate and direct others.
Facets
Different aspects or sides of an object, concept, or phenomenon.
Command
An authoritative order or directive given by a person in power.
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