Question: QUESTION ONE (20 MARKS) a) Briefly explain why does a corporate entity require a constitution and what kind of companies might have an all-executive board.

QUESTION ONE (20 MARKS) a) Briefly explain why does a corporate

QUESTION ONE (20 MARKS) a) Briefly explain why does a corporate entity require a constitution and what kind of companies might have an all-executive board. Justify. (4 marks) b) Explain briefly the potential dilemma faced by board of directors in unitary board and how could the dilemma be overcome by two-tier board. (5 marks) c) The first official report on corporate governance is Cadbury Report in 1992. What are the major recommendation of the report and how does it differ or similar to Malaysian Code of Corporate Governance (MCCG)? (5 marks) d) Explain the stewardship theory in the context of corporate governance and justify the perception of this theory towards managers (6 marks)

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