What is corporate governance? List five corporate governance provisions that are internal to a firm and are under control, 2) What characteristics of the board of directors usually lead to effective corporate governance? 3 List three provisions in the corporate charter that affect take overs, 4) Briefly describe the use of stock options in a compensation plan. What are some potential problems with stock options as a form of compensation? 5) Briefly explain how regulatory agencies and legal systems affect corprate governance?