Corporate Governance Post Enron

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Corporate Governance Post-Enron

Author : Joseph Jude Norton
Publisher : British Inst of International & Comparative
ISBN 13 : 9781905221073
Total Pages : 501 pages
Book Rating : 4.2/5 (21 download)

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Book Synopsis Corporate Governance Post-Enron by : Joseph Jude Norton

Download or read book Corporate Governance Post-Enron written by Joseph Jude Norton and published by British Inst of International & Comparative. This book was released on 2006 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: No sooner than the Enron scandal (and other major US corporate failures) unfolded that it became apparent the sundry issues of corporate governance that were being brought into question and deliberation were not simply issues peculiar to the US corporate governance context (which are covered in detail in this volume by leading US experts), but were of major concern also throughout Western Europe (aspects which are governed by UK, Italian, French, and Scandinavian experts and which touch upon European scandals such as Parmalat). In fact, the corporate governance issues of the Enron debacle are of a broader 'global concern,' where the experiences of developing, emerging, and transitioning economies present their own special perspectives and lessons to be learned (here experts from Russia and East Asia make significant contributions). In addition, the increasing interconnection of law and accounting rears its head as being of core importance-another topic that is discussed in detail throughout this volume. Further, special types of corporations (eg regulated financial institutions) and transactions (eg mergers and acquisitions) generate their own additional issues: these are also covered within this book. This publication, comprised of 21 chapters prepared by leading legal experts drawn worldwide, contributes constructively to the continuing comparative and international discussions and debates concerning the appropriate subject, policies and rules for appropriate corporate governance system(s)-as viewed from a multifaceted and multilayered context of true global dimensions. This volume represents the collaborative efforts of the British Institute of International and Comparative Law, the Centre for Commercial Law Studies (Queen Mary, London), the Stockholm Center for Commercial Law (Stockholm University Law Faculty), and the SMU Dedman School of Law and its Institute of International Banking and Finance; and comes as the latest addition to the Studies Series in International Financial, Economic and Technology Law, published in collaboration with the SMU International Law Review Association and the SMU-London Forum Intitiative. Ã²

Reforming Corporate Governance Post Enron

Author : A. Rashad Abdel-Khalik
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Reforming Corporate Governance Post Enron by : A. Rashad Abdel-Khalik

Download or read book Reforming Corporate Governance Post Enron written by A. Rashad Abdel-Khalik and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: One potentially positive outcome of Enron's demise could be improving the process by which auditors are selected, retained and compensated. A proposal to reform this aspect of corporate governance is outlined in this essay. In addition, this editorial accomplishes two goals: (a) identification of the problem of audit independence as an outcome of vesting the authority to make auditor-related decisions with corporate boards of directors, and (b) proposing a structure to allow shareholders a direct path for deciding on auditor choice and compensation. This structure calls for establishing a Shareholders' Board of Trustees (SBT) independent of the Board of Directors and vest it with the responsibility of selecting, retaining and compensating external auditors. As a side benefit, allowing SBT to participate in the choice of corporate audit committee members could only enhance that committee's independence and effectiveness.To function as an independent agent of shareholders, administering the election process for the SBT has to lie outside the corporation; it could be, for example, administered by the stock exchange for a fee. It is evident that the administrative and procedural matters of implementation need to be developed and need not be binding to give this concept serious consideration.

After Enron

Author : William A. Niskanen
Publisher : Rowman & Littlefield
ISBN 13 : 9780742544345
Total Pages : 414 pages
Book Rating : 4.5/5 (443 download)

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Book Synopsis After Enron by : William A. Niskanen

Download or read book After Enron written by William A. Niskanen and published by Rowman & Littlefield. This book was released on 2007 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: After Enron addresses the major lessons about accounting, auditing, taxation, and corporate governance that are illustrated by the collapse of Enron and other recent major corporate scandals. The book then develops a set of proposals for changes in public policy that would lead accountants, bankers, board members, lawyers, and corporate managers to better serve the interests of the general public.

Corporate Governance Post-Enron

Author : Stuart Gillan
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Corporate Governance Post-Enron by : Stuart Gillan

Download or read book Corporate Governance Post-Enron written by Stuart Gillan and published by . This book was released on 2007 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine Enron's collapse to provide insights as to the efficacy of recent governance reforms. In doing so, we explore two main issues. First, if recently mandated governance changes had been in place earlier, would they have constrained actions by Enron's management? Second, and more generally, which of the recent governance changes might act to constrain governance failures going forward? Although many aspects of corporate governance failed at Enron, the firm's viability ultimately rested on an inherently risky business strategy, a strategy that the board and others apparently failed to understand. However, it is not apparent that increasing board independence would have changed Enron's strategic direction, or prevented the firm's collapse. From this perspective, many recent reforms, including those mandating specific board structures likely move firms away from their optimal governance structure and are tantamount to closing the stable door after the horse has bolted. We assert that, ceteris paribus, stronger internal controls coupled with reduced potential for conflicts of interest on the part of the external auditor might have constrained management's ability to hide the firm's true financial condition and are likely to constrain aspects of fraudulent behavior going forward.

Convergence and Persistence in Corporate Governance

Author : Jeffrey N. Gordon
Publisher : Cambridge University Press
ISBN 13 : 9780521536011
Total Pages : 396 pages
Book Rating : 4.5/5 (36 download)

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Book Synopsis Convergence and Persistence in Corporate Governance by : Jeffrey N. Gordon

Download or read book Convergence and Persistence in Corporate Governance written by Jeffrey N. Gordon and published by Cambridge University Press. This book was released on 2004-04-08 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance is on the reform agenda all over the world. How will global economic integration affect the different systems of corporate ownership and governance? Is the Anglo-American model of shareholder capitalism destined to become the template for a converging global corporate governance standard or will the differences persist? This reader contains classic work from leading scholars addressing this question as well as several new essays. In a sophisticated political economy analysis that is also attuned to the legal framework, the authors bring to bear efficiency arguments, politics, institutional economics, international relations, industrial organization, and property rights. These questions have become even more important in light of the post-Enron corporate governance crisis in the United States and the European Union's repeated efforts at corporate integration. This will become a key text for postgraduates and academics.

Corporate Governance After the Financial Crisis

Author : Stephen M. Bainbridge
Publisher : Oxford University Press, USA
ISBN 13 : 0199772428
Total Pages : 294 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis Corporate Governance After the Financial Crisis by : Stephen M. Bainbridge

Download or read book Corporate Governance After the Financial Crisis written by Stephen M. Bainbridge and published by Oxford University Press, USA. This book was released on 2012-02-16 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The years from 2000 to 2010 were bookended by two major economic crises. The bursting of the dotcom bubble and the extended bear market of 2000 to 2002 prompted Congress to pass the Sarbanes-Oxley Act, which was directed at core aspects of corporate governance. At the end of the decade came the bursting of the housing bubble, followed by a severe credit crunch, and the worst economic downturn in decades. In response, Congress passed the Dodd-Frank Act, which changed vast swathes of financial regulation. Among these changes were a number of significant corporate governance reforms. Corporate Governance after the Financial Crisis asks two questions about these changes. First, are they a good idea that will improve corporate governance? Second, what do they tell us about the relative merits of the federal government and the states as sources of corporate governance regulation? Traditionally, corporate law was the province of the states. Today, however, the federal government is increasingly engaged in corporate governance regulation. The changes examined in this work provide a series of case studies in which to explore the question of whether federalization will lead to better outcomes. The author analyzes these changes in the context of corporate governance, executive compensation, corporate fraud and disclosure, shareholder activism, corporate democracy, and declining US capital market competitiveness.

The Voluntary Adoption of Corporate Governance Reforms in the Post-enron Era

Author : Xia Zhao
Publisher :
ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.:/5 (81 download)

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Book Synopsis The Voluntary Adoption of Corporate Governance Reforms in the Post-enron Era by : Xia Zhao

Download or read book The Voluntary Adoption of Corporate Governance Reforms in the Post-enron Era written by Xia Zhao and published by . This book was released on 2006 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Following the Money

Author : George Benston
Publisher : Brookings Institution Press
ISBN 13 : 9780815708919
Total Pages : 154 pages
Book Rating : 4.7/5 (89 download)

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Book Synopsis Following the Money by : George Benston

Download or read book Following the Money written by George Benston and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and American Enterprise Institute publication A few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom—as well as the discovery of accounting irregularities at other large U.S. companies—seemed to call into question the efficacy of the entire system of corporate governance in the United States. In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms—watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding—tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well. Will these reforms be enough? Are some counterproductive? Are other shortcomings in the disclosure system still in need of correction? These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive. Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.

Corporate Governance after Enron

Author : Robert B. Thompson
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Corporate Governance after Enron by : Robert B. Thompson

Download or read book Corporate Governance after Enron written by Robert B. Thompson and published by . This book was released on 2003 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of Enron and other corporate failures in the post-bubble economy, the menu of possible regulatory responses included federal regulation, state corporate law, or governance by self-regulatory organizations such as the stock exchanges. This commentary sets out the response of each actor in the first year after Enron and examines why state law chose to stand pat during this period. Part II examines a related problem posed by Enron - did it push the envelope in the use of separate entities as much as it appeared to do in accounting treatment? It compares Enron's use of SPEs to more familiar uses of separate entities in piercing the corporate veil contexts and concludes that the traditional corporate remedies of piercing, bankruptcy, or personal liability are likely to be less effective than disclosure is addressing future abuses of the type that arose in Enron.

Tougher Boards for Tougher Times

Author : William A. Dimma
Publisher : Mississauga, Ont. : J. Wiley & Sons Canada
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Tougher Boards for Tougher Times by : William A. Dimma

Download or read book Tougher Boards for Tougher Times written by William A. Dimma and published by Mississauga, Ont. : J. Wiley & Sons Canada. This book was released on 2006-02-10 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'tick box' requirements of good governance are the basic foundations for responsible corporate administration. Dimma makes a real contribution to moving from that base to the new level of governance performance required in today's corporate environment, drawing on practical experience and relevant examples of good governance.

Corporate Governance Post-Sarbanes-Oxley

Author : Zabihollah Rezaee
Publisher : John Wiley & Sons
ISBN 13 : 0470107448
Total Pages : 562 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis Corporate Governance Post-Sarbanes-Oxley by : Zabihollah Rezaee

Download or read book Corporate Governance Post-Sarbanes-Oxley written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2007-10-05 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Post Sarbanes-Oxley introduces a corporate governance structure consisting of seven interrelated mechanisms of oversight: managerial, compliance, audit, advisory, assurance, and monitoring. The book begins with a discussion of the new requirements for corporate governance and financial reporting brought about by Sarbanes-Oxley and then shows how a well-balanced functioning of the seven mechanisms produces a responsible corporate governance structure that ensures quality financial reporting and credible audit services. Each chapter includes checklists, real-world case studies, and best practice tips.

Corporate Governance Best Practices

Author : Carolyn Kay Brancato
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis Corporate Governance Best Practices by : Carolyn Kay Brancato

Download or read book Corporate Governance Best Practices written by Carolyn Kay Brancato and published by . This book was released on 2003 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Handbook of Board Governance

Author : Richard Leblanc
Publisher : John Wiley & Sons
ISBN 13 : 1118895509
Total Pages : 888 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis The Handbook of Board Governance by : Richard Leblanc

Download or read book The Handbook of Board Governance written by Richard Leblanc and published by John Wiley & Sons. This book was released on 2016-05-31 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt: Build a more effective board with insight from the forefront of corporate governance The Handbook of Board Governance provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. Written by collaboration among subject matter experts, this book combines academic rigor and practitioner experience to provide thorough guidance and deep insight. From diversity, effectiveness, and responsibilities, to compensation, succession planning, and financial literacy, the topics are at once broad-ranging and highly relevant to current and aspiring directors. The coverage applies to governance at public companies, private and small or medium companies, state-owned enterprises, family owned organizations, and more, to ensure complete and clear guidance on a diverse range of issues. An all-star contributor list including Ram Charan, Bob Monks, Nell Minow, and Mark Nadler, among others, gives you the insight of thought leaders in the areas relevant to your organization. A well-functioning board is essential to an organization’s achievement. Whether the goal is furthering a mission or dominating a market, the board’s composition, strategy, and practices are a determining factor in the organization’s ultimate success. This guide provides the information essential to building a board that works. Delve into the board’s strategic role in value creation Gain useful insight into compensation, risk, accountability, legal obligations Understand the many competencies required of an effective director Get up to speed on blind spots, trendspotting, and social media in the board room The board is responsible for a vast and varied collection of duties, but the singular mission is to push the organization forward. Poor organization, one-sided composition, inefficient practices, and ineffective oversight detract from that mission, but all can be avoided. The Handbook of Board Governance provides practical guidance and expert insight relevant to board members across the spectrum.

Corporate Aftershock

Author : Christopher L. Culp
Publisher : Wiley
ISBN 13 : 0471474142
Total Pages : 352 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Corporate Aftershock by : Christopher L. Culp

Download or read book Corporate Aftershock written by Christopher L. Culp and published by Wiley. This book was released on 2003-06-17 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to address public policy in the light of recent corporate debacles Corporate Aftershock is a reasoned, informed response to the numerous proposals to restrict derivatives, structured financing activities, and shareholder protection principles and practices following the failure of Enron and other corporations. Readers get a cogent analysis of the public policy world after recent corporate debacles. Corporate Aftershock provides a detailed background of the markets, players, regulations, and institutional environment surrounding these failures. Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC. William A. Niskanen, PhD (Washington, DC), is Chairman of the Cato Institute.

Post-Enron

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (574 download)

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Book Synopsis Post-Enron by :

Download or read book Post-Enron written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Oversight of Enron

Author : United States. Congress. Senate. Committee on Governmental Affairs
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Financial Oversight of Enron by : United States. Congress. Senate. Committee on Governmental Affairs

Download or read book Financial Oversight of Enron written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2002 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Post-Enron Reflections on Comparative Corporate Governance

Author : Margaret M. Blair
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Post-Enron Reflections on Comparative Corporate Governance by : Margaret M. Blair

Download or read book Post-Enron Reflections on Comparative Corporate Governance written by Margaret M. Blair and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the heated debate of the last fifteen years over which of the world's many different corporate governance systems were best, the shareholder primacy advocates thought they had won at the turn of the century. Now, in 2002, the helium has come out of the formerly high-flying technology and information infrastructure sectors that were leading the U.S. economic expansion in the 1990s, and the Enron fiasco and accounting scandals at numerous other U.S. corporations have exposed deep flaws in the system that had been held up as the model for all the world to follow. Many possible lessons can be drawn. At least one is that the high-powered incentives provided by stock option compensation may produce perverse behavior that can, in turn, undermine institutional arrangements that support and foster mutual trust and cooperation. The study of corporate governance must focus on more than just how to get management to maximize value for shareholders. It must also be about the human institutions that bind people together in cooperative relationships over long periods of time.