mid-term exam part 1- answers

mid-term exam part 1- answers - MID-TERM EXAM BA-5900...

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MID-TERM EXAM BA-5900 October 12, 2010 Student Name: _________________________________ Part 1. [ Closed Book] Each question is worth 3 points. 1. What is the theory of corporate governance that recognizes that firms have relationships with many constituent groups which both affect and are affected by the actions of the firm? Stakeholder Theory 2. What is the oldest written set of laws to influence Western legal development and from which modern country did it come? Hammurabi and Iraq 3. What document drove the divergence of the modern common law system from the civil law legal system? Magna Charta 4. What are three differences between the common and the civil law legal systems? Common Law Civil Law Constitution long standing Constitution more recent difficult to amend “ easy to amend Adversarial Inquisitorial Jury Panel of Judges Common law Civil Codes 5. What US law prohibits the payment of bribes to foreign government officials? Foreign Corrupt Practices Act [FCPA]
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6. The Nobel laureate, Milton Friedman, asserted that a corporation’s sole responsibility is to whom? Shareholders 7. What are the three [3] of the four tests promoted by Rotary International for ethical behavior? Is it the truth? Is it fair to all concerned? Will it build goodwill and better friendships? Will it be beneficial to all concerned? 8. In the class discussion of Ford and the lawsuit pertaining to the defective design of the gas tank in the Pinto, what was one of the instructor’s problems with the court decision? All decisions involve a trade-off between price and risk 9. What are the three [3] international economic organizations established to deter a third world war? International Monetary Fund [IMF], International Bank for Reconstruction and
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mid-term exam part 1- answers - MID-TERM EXAM BA-5900...

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