Case Study: In Chapter 4 of your book, you have come across the concept of corporate governance and the different regimes of corporate governance. In this case study, you would note some real events. Each of these events involve an organization that has or had business at a global scale. And for each of these organizations, their weakened financial status or the respective scandal has been attributed to flawed corporate governance practices. The events are as follows: 1. The recent filing for bankruptcy by Hanjin Shipping, the South Korean giant. It has been claimed that, further to economic conditions, the weakened financial status of the organization is linked also to imperfect corporate governance practices (Anonymous, 2017). 2. The Toshiba accounting fraud scandal. It has been argued that the incident highlights flaws in the organization’s corporate governance practices (Kazuo, 2015). 3. The Volkswagen emission scandal. In this case as well, the corporate governance of the organization has come under scrutiny (Timms, 2015). Referred Sources: Anonymous. (2017, February 16). Hanjin saga reveals South Korea’s corporate governance flaws. The Japan Times Online. Retrieved from http://www.japantimes.co.jp/news/2017/02/16/business/corporate-business/hanjin-saga-reveals-south-koreas-corporate-governance-flaws/ Kazuo, M. (2015, October 6). Toshiba accounting scandal highlights issues in corporate governance. Nippon.com. Retrieved from http://www.nippon.com/en/in-depth/a04802/ Timms, M. (2015, December 3). The Volkswagen scandal: what next for the troubled company? European CEO. Retrieved from http://www.europeanceo.com/business-and-management/the-volkswagen-scandal-what-next-for-the-troubled-company/ Considering the above events and after browsing the indicated sources above (and any additional relevant sources from the web or library database), please answer the following. Question to Answer: Q1: Why is good corporate governance essential for a (multinational enterprises) MNE?