Exercise 2. Statements 1, 4, 5, 7, 9, 10, 13 are not correct.

Exercise 3. 1. message, 2. cost of capital, 3. dividend, 4. performance, 5. peer, 6. NPV, 7. appreciation, 8. economic profit, 9. stock market

Exercise 4.corporate value, segments, worldwide, applied, goal-driven, decentralized, gaps, target, budgeted, reporting, linked, proactive, earning power, cost of capital, rate of return, profitability, benchmark, bonus, remuneration, performance, expansion, business units, withdrawal, entry, value generators, cash providers, dividend, core