CORPORATE GOVERNANCE - TEST

It refers to the a process of decision-making and the process by which decisions are implemented or not implemented through the exercise of power.

It refers to the system of rules, practices and process by which business corporations are directed and controlled.

It is one of the key requirement of good governance and this cannot be enforced without transparency and the rule of law.

It is a key cornerstone of good governance and this could be either direct or indirect or through legitimate institutions or representatives.

Because of this characteristic of good governance institutions produce results that meet the needs of society.

This means that information is freely available and directly accessible to those who will be affected by such decisions and their enforcement.

This is a requirement for good governance that institutions and processes try to serve the needs of all stakeholders within a reasonable timeframe.

A theory in the evolution of corporate governance that was considered as value based.

A theory in the evolution of corporate governance that the company is seen as an input-output model.

According to this theory in the evolution of corporate governance, managers act as an agent of the corporation.