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Corporate governance can be defined as: a
Corporate governance can be defined as:
a. The system used by firms to control the actions of their employees
b. The election process used to vote in a new Board of Director
c. The corporate compliance system used by the firm
d. The system used by firms to identify who the critical stakeholders are for the firm
Expert Solution
The correct answer is Option A) The system used by firms to control the actions of their employees.
The reason is that corporate governance is the mix of rules, processes or laws by which businesses and its stakeholders are operated, regulated or controlled.
Explanation for incorrect answers
Option B is incorrect.
The reason is that the election process used to vote in a new Board of Director is not part of corporate governance.
Option C is incorrect.
The reason is that corporate compliance refers to both internal policies and procedures, as well as federal and state laws.
Option D is incorrect.
The reason is that identifying who the critical stakeholders are for the firm is not part of corporate governance
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