Infosys squabble calls for a theory of the teenage firm

Four decades ago, two University of Rochester professors came up with a definitive theory for that “awesome social invention” known as a publicly held company. The firm, they said, was but a series of contractual agreements between the owners and their agents — the managers.

And there the matter rested. Until a 20-F filing at the US Securities Exchange Commission by Bangalore-based InfosysBSE 0.05 % reopened the contract and raised the question: Can agents ask pesky principals to g ..

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