Final answer:
The board of directors oversees the management in a publicly traded corporation and is elected by the shareholders to act in their interests, while management tends to the daily operations of the company.
Step-by-step explanation:
In a publicly traded corporation, the relationship between the board of directors and management is characterized by the board's role in overseeing the management team. The board of directors is elected by the shareholders and is responsible for making decisions in the best interests of these shareholders, which includes hiring and supervising the firm's top executives. While management runs the day-to-day operations of the company, the board provides governance and oversight, acting as the first line of corporate governance. Although top executives may have a strong voice in suggesting candidates for the board, ultimately, the shareholders vote on who will represent their interests on the board.
Answer: a) Board of directors oversees management