Which of the following statements is not correct?

Select one:

a. agency conflicts can decrease the value of share owned by outside shareholders.

b. in addition to the corporate governance provisions that are under a firm's control, there are also environmental factors outside of a firm's control.

c. if managers are not maximizing value, they should be removed by shareholders.

d. some corporate governance provisions are internal to a firm and are under its control.

e. almost all corporate governance provisions affect either the threat of removal or compensation.