21.The elements of shareholder democracy include:

Select one:

a. All of the above

b. Majority voting in uncontested director elections

c. Proxy access

d. The treatment of broker non-votes

22.Which of the following statements is true about family management?

Select one:

a. It always creates firm value

b. None of the above

c. It always destroys firm value

d. It eliminates Agency cost I but may create Agency cost II

23.Which of the following is not a long term incentive?

Select one:

a. Performance Plans

b. Salary

c. Bonus Plan

d. Stock Options

24.During which decade did executive compensation shift away from fixed salaries and bonuses toward variable pay linked to long-term performance targets and stock options?

Select one:

a. 2000s

b. 1930s

c. 1980s

d. 1950s

25.Which of the following description of strategy-development process is not an issue faced by companies in the real world?

Select one:

a. Inadequate information sharing hinders the coordination among different departments such as Finance and Operating Groups

b. Many companies develop strategies through a nonlinear process such as creating a pilot program to monitor and assess the results of the strategies

c. The development process could be biased by management creating incremental strategic changes that are too close to the current business operations

d. None of the above