8.Informal institutions include edicts and regulations issues by governmental authorities.

a)True

b)False 9.Corporate governance refers to the rules by which rights and responsibilities of different stakeholders are distributed.

a)True

b)False 10.Regulatory pillar is the

a) The coercive power of governments.

b) The mechanism through which norms influence individual and firm behaviour.

c) The internalized, taken-for-granted values and beliefs that guide individual and firm behaviour.