Identify which of the following are true or false related to corporate governance.

1. The primary participants in corporate governance are: the shareholders, the management, and the board of directors. (True or False)

2. Managerial incentives to align management interests with those of the stockholders minimize the temptation for managers to act in their own self-interest. (True or False)

3. A board of directors that acts in the best interests of shareholders to create short-term value a primary means for monitoring managerial behavior. (True or False)

4. The board of directors is a group that has a fiduciary duty to ensure that the company is run consistently with long-term interests of the owners. (True or False)