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Corporate Governance Overview

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Questions and Answers

What is the main purpose of corporate governance as described in the text?

Minimizing stakeholder interests

Enhancing business prosperity and corporate accountability (correct)

Ignoring shareholder rights

Maximizing short-term profits

Who is responsible for protecting shareholder rights and enhancing shareholder value?

Government regulators

Customers

Board of Directors and management (correct)

Employees

What role does the Board of Directors play in corporate governance according to the text?

Acting in their own interests only

Focusing solely on short-term gains

Representing shareholders and overseeing management (correct)

Ignoring shareholders' interests

Which term best describes the process used to direct and manage a company's business towards long-term shareholder value?

Corporate governance Signup and view all the answers

Why is it essential for a company to be accountable to shareholders according to the text?

To enhance transparency and trust Signup and view all the answers

What does corporate governance refer to?

The system of rules, practices, and processes by which a company is directed and controlled Signup and view all the answers

According to the World Bank, what does corporate governance promote?

Fairness, transparency, and accountability Signup and view all the answers

What is the main purpose of corporate governance according to Rezaee (2009)?

Protecting outside investors from expropriation by insiders Signup and view all the answers

How is corporate governance described by La Porta (2000)?

A set of mechanisms for outside investors to protect themselves Signup and view all the answers

Who are the key stakeholders involved in corporate governance?

Shareholders, management, customers, suppliers, financers, government, and the community Signup and view all the answers

What does the OECD consider corporate governance to be?

A system by which business organizations are directed and controlled Signup and view all the answers