1- What is a corporation?
A corporation (sometimes referred to as a C corporation) is an independent legal entity owned by shareholders. This means that the corporation itself, not the shareholders that own it, is held legally liable for the actions and debts the business incurs.
2- What are the responsibilities and legal rights of a corporation?
2. Company was established in accordance with local law. With the local law to protect all kinds of rights, such as the property ownership of the company and reputation, etc. Enterprise has the social responsibility. Enterprises need to responsible for individuals and groups which Have an impact on the company. Include Employees, customers, suppliers and partners.
3- How much discretion does the CEO have to impose his/her values on a corporation? What might it depend on?
3. CEOs have a considerable liability in making decisions.In reality, It mainly depends on profit and shareholder interests. However, socially responsible decisions are not misaligned with interests.
4- What caused the most famous corporate scandals (Worldcom, Enron, Tyco, Martha Stewart, Hollinger? Bad people in a corporation or bad institutional arrangements?
4. Lack of regulatory regime， include two parts, The first part for the sponsorship members, overseeing the group decision making and a variety of business practices. The second part for sponsorship members, regularly check the group members of the executive ability and the degree of finish.
5- Do the character of individuals that define institutions?
5. yes we agree this view. We think the most import point of a company is the company culture, which is created by CEO. And the culture include the character of manage