Answer any two of the following questionsa

• Do you believe corporate governance should be narrowly defined to encompass shareholders only or more broadly to incorporate all stakeholders? Explain your answer.
• Of the external factors impacting corporate governance, which do you believe is likely to be the most important? Be specific.
• Discuss the advantages and disadvantages of the friendly versus hostile approaches to corporate takeovers. Be specific.
• Do you believe that corporate takeover defenses are more motivated by the target’s managers attempting to entrench themselves or to negotiate a higher price for their shareholders? Be specific.

Define the following terms:

• Bear hugs
• Street sweeps
• Proxy contests
• Tender offers
• Poison pills
• Shark repellants
• Golden parachutes
• Anti-greenmail
• Super-voting stock
• re-incorporation
• Greenmail
• Standstill agreement
• Pac-man defense
• White knights