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Corporate Governance: Agency Problems

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Questions and Answers

What is the Moral Argument for Corporate Social Responsibility (CSR)?

It's a way to increase profits

It's a way to attract more customers

It's the right thing to do (correct)

It's a requirement by law

What is the Social Efficiency Argument for CSR?

CSR is a way to increase employee motivation

Businesses can be more efficient in solving social problems than governments and non-profits (correct)

CSR is a way to reduce reputational damage

Companies should only focus on making money

What is the criticism of Milton Friedman regarding CSR?

CSR is a way to improve government relations

CSR is a way to attract more customers

CSR is a way to increase profits

CSR is a negligence to shareholders (correct)

What is the term for companies that use sneaky tactics to claim their products are 'green' when they are not?

Greenwashing Signup and view all the answers

What is the term for a type of company that pursues both social and environmental goals, as well as economic goals?

Benefit Corporation Signup and view all the answers

What is the problem of adverse selection in the context of CSR?

Companies that engage in CSR are more likely to mess up Signup and view all the answers

What is the main goal of corporate governance?

To enable managers to use their expertise, while keeping them from acting in their own self-interest Signup and view all the answers

What is an effect of agency problems in corporate governance?

Short-term focus and reduced long-term investments Signup and view all the answers

What is a means of internal governance?

Board supervision by outside directors Signup and view all the answers

What is the focus of corporate social responsibility?

Protecting the rights of stakeholders Signup and view all the answers

What is a form of corporate social responsibility?

Making a safe and reliable product/service Signup and view all the answers

What is the concept of the 'triple bottom line'?

Social, Environmental, and Economic Signup and view all the answers