The managenerit of Smith and T Co, controls 58% of the company's stock. The firm did not mect any of its quarterfy sales projections for the last yeac Same of the fims insteutionsi investors are wamed that the firm's poor performance is partly because managernent has not been fooused on maximing sharehalder wealth. Which of the following measures would the institutonal ivetoes most likely want to see implemented? Ther wold wart to change the copporite charter to allow cumulitive voting instead of noncumidative voting. Ther would wart to ensure that the conpany's quo is also the charperson of the board of directors. They would wart to change the corporote bylaws so that one third of the boord seats are filled each year and each directar serves a tiveevear term. It is reasonatle to assurne that a fims management is going to be ultimately motivated to act in ther own bect interest. It can be a serious problen for shareholders if manyoments seif-interests do not align with stareholders' solf interests. Select the statement that best describes the board of diectors' actions in the followeng scenania: Westem cas A llectic co currentiy has s3.t bilion in cash on its balance sheet. The cro thinks the firm will need s6oo million in cach to finance operaicos for the next yeas. The cro has recommended that the firm beep the excess cash in a marketable seciritied pentiolo to allow for unierpected couts. Woweve, the board of drectors has deoded that the firm will pwy thas money out to the thareteders in the form of a cosh owidend. the board deovon is eatremely may and not very pratical