The Audit Committee: Performing Corporate Governance

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Publisher : Springer Science & Business Media
ISBN 13 : 030647655X
Total Pages : 191 pages
Book Rating : 4.3/5 (64 download)

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Book Synopsis The Audit Committee: Performing Corporate Governance by : Laura F. Spira

Download or read book The Audit Committee: Performing Corporate Governance written by Laura F. Spira and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do we need to understand audit committees? The Cadbury Committee recommended that UK companies should adopt them in response to financial scandals that have stemmed from dubious financial reporting practices. In other countries, similar commissions have made similar recommendations and audit committees are now a common institution. However, many practitioners doubt whether an audit committee really does much to ensure the integrity of a firm's financial statements because, as outsiders, members don't know enough to dig deeply beneath the numbers. The Audit Committee: Performing Corporate Governance argues that such criticism overlooks the ceremonial function of these committees. The audit committee is an arena where members can form and strengthen shifting and fragmentary networks with each other and with the external auditors. Within these networks, both consensus and independence are demonstrated, generating comfort, which legitimises the company and maintains its access to external sources of capital. The audit committee is a key part of the corporate governance structure within an organisation. Many in the UK have been patched together to meet regulatory requirements and their operation is poorly understood because few people other than their members have access to their deliberations. In this account of the world of audit committees the practitioner will find the ethnographical perspectives on ceremonial performance, consensus, independence, and comfort both familiar and different. It's like looking at a photograph of something commonplace from an unusual angle or through a strange-shaped lens.

Boards at Work : How Directors View their Roles and Responsibilities

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Publisher : OUP Oxford
ISBN 13 : 0191580937
Total Pages : 182 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Boards at Work : How Directors View their Roles and Responsibilities by : Philip Stiles

Download or read book Boards at Work : How Directors View their Roles and Responsibilities written by Philip Stiles and published by OUP Oxford. This book was released on 2001-03-29 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are coming under increasing scrutiny in terms of their contribution in monitoring and controlling management, particularly in the wake of high-profile corporate frauds and failures, and also their potential to add value to organizational performance through involvement in the strategy process and through building relationships with key investors. Despite the importance of these issues, not only to organizations but also arguably to national competitiveness, the nature of board activity remains largely a black box, clouded by prescriptions, prejudices, and half-truths. This book responds to calls for greater scrutiny of boards of directors with an in-depth examination of directors of UK organizations, drawing on the accounts of directors themselves as to their roles, influence, and the potential and limits to their power. Much work on boards of directors has labelled the board as a rubber stamp for dominant management, and non-executive directors in particular have been variously described as poodles, pet rocks, or parsley on the fish. Such accounts are rooted in assumptions of board activity that are essentially adversarial in nature, and that the solution to the 'problem' of reconciling the interests of managers with those of shareholders is to increase the checks and balances available to the board of directors. The findings of this study show that boards, in many cases, are far more than passive rubber stamps for management and that non-executives are encouraged to act as trusted advisers to the executives and the chief executive, rather than solely monitors of executive activity. Boards are important mechanisms in maintaining the strategic framework of the organization through setting the boundaries of organizational activity. The potential of the board members, in particular the non-executives, to fulfil such a mandate depends on a number of factors, including ability, willingness to engage with the organizational issues, and the degree of knowledge they have relevant to the host firm. Above all, the degree of trust built between members of the board, and between the board and key external constituencies, is at the heart of effective board behaviour.

The Modern Corporation and Private Property

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Publisher :
ISBN 13 :
Total Pages : 396 pages
Book Rating : 4.:/5 (138 download)

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Book Synopsis The Modern Corporation and Private Property by : Adolf Augustus Berle

Download or read book The Modern Corporation and Private Property written by Adolf Augustus Berle and published by . This book was released on 1937 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Concentrated Corporate Ownership

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Publisher : University of Chicago Press
ISBN 13 : 0226536823
Total Pages : 404 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis Concentrated Corporate Ownership by : Randall K. Morck

Download or read book Concentrated Corporate Ownership written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-12-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard economic models assume that many small investors own firms. This is so in most large U.S. firms, but wealthy individuals or families generally hold controlling blocks in smaller U.S. firms and in all firms in most other countries. Given this, the lack of theoretical and empirical work on tightly held firms is surprising. What corporate governance problems arise in tightly held firms? How do these differ from corporate governance problems in widely held firms? How do control blocks arise and how are they maintained? How does concentrated ownership affect economic growth? How should we regulate tightly held firms? Drawing together leading scholars from law, economics, and finance, this volume examines the economic and legal issues of concentrated ownership and their impact on a shifting global economy.

Introduction to Earnings Management

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Publisher : Springer
ISBN 13 : 3319626868
Total Pages : 120 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis Introduction to Earnings Management by : Malek El Diri

Download or read book Introduction to Earnings Management written by Malek El Diri and published by Springer. This book was released on 2017-08-20 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides researchers and scholars with a comprehensive and up-to-date analysis of earnings management theory and literature. While it raises new questions for future research, the book can be also helpful to other parties who rely on financial reporting in making decisions like regulators, policy makers, shareholders, investors, and gatekeepers e.g., auditors and analysts. The book summarizes the existing literature and provides insight into new areas of research such as the differences between earnings management, fraud, earnings quality, impression management, and expectation management; the trade-off between earnings management activities; the special measures of earnings management; and the classification of earnings management motives based on a comprehensive theoretical framework.

The world price of earnings opacity

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Publisher :
ISBN 13 : 9789616430258
Total Pages : 27 pages
Book Rating : 4.4/5 (32 download)

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Book Synopsis The world price of earnings opacity by : Uptal Bhattacharya

Download or read book The world price of earnings opacity written by Uptal Bhattacharya and published by . This book was released on 2002 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Product Market Competition and Agency Costs

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Publisher :
ISBN 13 : 9780662443018
Total Pages : 42 pages
Book Rating : 4.4/5 (43 download)

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Book Synopsis Product Market Competition and Agency Costs by : Jennifer Jane Baggs

Download or read book Product Market Competition and Agency Costs written by Jennifer Jane Baggs and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Economists have long held the belief that competition improves efficiency. One of the mechanisms suggested is that product market competition alleviates agency costs, which in turn many enable firms to induce higher effort and greater efficiency from their managers. In this way, competition mitigates what Leibenstein (1966) called 'X-inefficiencies.' Despite growing interest, an unambiguous theoretical formulation for this 'vague suspicion' has proved difficult to obtain. In this paper we examine the impact of competition on efficiency both theoretically and empirically. The main theoretical contribution of this paper is to show that product market competition can have a direct, and ambiguously positive effect on managerial incentives."--Unedited text from document.

Handbook of Corporate Finance

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Publisher : Elsevier
ISBN 13 : 0080488919
Total Pages : 559 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Handbook of Corporate Finance by : Bjørn Espen Eckbo

Download or read book Handbook of Corporate Finance written by Bjørn Espen Eckbo and published by Elsevier. This book was released on 2007-05-21 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms' financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything "corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.*The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance*Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance*The series is international in scope with contributions from field leaders the world over

Corporate Governance Around the World

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Publisher : Routledge
ISBN 13 : 1134087888
Total Pages : 545 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Corporate Governance Around the World by : Ahmed Naciri

Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.

Pay Without Performance

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Publisher : Harvard University Press
ISBN 13 : 9780674020634
Total Pages : 308 pages
Book Rating : 4.0/5 (26 download)

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Book Synopsis Pay Without Performance by : Lucian A. Bebchuk

Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.

Corporate Governance

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Publisher : Wiley-Blackwell
ISBN 13 : 9781405116985
Total Pages : 584 pages
Book Rating : 4.1/5 (169 download)

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Book Synopsis Corporate Governance by : Robert A. G. Monks

Download or read book Corporate Governance written by Robert A. G. Monks and published by Wiley-Blackwell. This book was released on 2003-12-19 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the dramatic series of corporate meltdowns: Enron; Tyco; Adelphia; WorldCom; the timely new edition of this successful text provides students and business professionals with a welcome update of the key issues facing managers, boards of directors, investors, and shareholders. In addition to its authoritative overview of the history, the myth and the reality of corporate governance, this new edition has been updated to include: analysis of the latest cases of corporate disaster; An overview of corporate governance guidelines and codes of practice in developing and emerging markets new cases: Adelphia; Arthur Andersen; Tyco Laboratories; Worldcom; Gerstner's pay packet at IBM Once again in the new edition of their textbook, Robert A. G. Monks and Nell Minow show clearly the role of corporate governance in making sure the right questions are asked and the necessary checks and balances in place to protect the long-term, sustainable value of the enterprise. A CD-ROM containing a comprehensive case study of the Enron collapse, complete with senate hearings and video footage, accompanies the text. Further lecturer resources and links are available at www.blackwellpublishing.com/monks

The Convergence of Corporate Governance

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Publisher : Springer
ISBN 13 : 1137029560
Total Pages : 262 pages
Book Rating : 4.1/5 (37 download)

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Book Synopsis The Convergence of Corporate Governance by : Abdul Rasheed

Download or read book The Convergence of Corporate Governance written by Abdul Rasheed and published by Springer. This book was released on 2012-06-12 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes readers through an in-depth examination of many leading industrialized nations and identifies both the drivers that propel corporations towards convergence and the major impediments that stand in the way of convergence. Also examines many mechanisms of convergence such as governance codes, MNCs, and IPOs.

The Financial Crisis Inquiry Report

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Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Applied Corporate Finance

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Publisher : John Wiley & Sons
ISBN 13 : 1118808932
Total Pages : 663 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Applied Corporate Finance by : Aswath Damodaran

Download or read book Applied Corporate Finance written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.

The Effects of Competition

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Publisher : MIT Press
ISBN 13 : 9780262264655
Total Pages : 558 pages
Book Rating : 4.2/5 (646 download)

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Book Synopsis The Effects of Competition by : George Symeonidis

Download or read book The Effects of Competition written by George Symeonidis and published by MIT Press. This book was released on 2002-01-18 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical study of the effects of competition across a broad range of industries. Policies to promote competition are high on the political agenda worldwide. But in a constantly changing marketplace, the effects of more intense competition on firm conduct, market structure, and industry performance are often hard to distinguish. This study combines game-theoretic models with empirical evidence from a "natural experiment" of policy reform. The introduction in the United Kingdom of the 1956 Restrictive Trade Practices Act led to the registration and subsequent abolition of explicit restrictive agreements between firms and the intensification of price competition across a range of manufacturing industries. An equally large number of industries were not affected by the legislation. Using data from before and after the 1956 act, this book compares the two groups of industries to determine the effect of price competition on concentration, firm and plant numbers, profitability, advertising intensity, and innovation. The book avoids two problems common to empirical studies of competition: how to measure the intensity of competition and how to unravel the links between competition and other variables. Because the change in the intensity of competition had an external cause, there is no need to measure the intensity of competition directly, and it is possible to identify one-way causal effects when estimating the impact of competition. The book also examines issues such as the industries in which collusion is more likely to occur; the effect of cartels and cartel laws on market structure and profitability; the links between competition, advertising, and innovation; and the constraints on the exercise of merger and antitrust policies.

Political Standards

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Publisher : University of Chicago Press
ISBN 13 : 022621074X
Total Pages : 300 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Political Standards by : Karthik Ramanna

Download or read book Political Standards written by Karthik Ramanna and published by University of Chicago Press. This book was released on 2015-11-09 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assembling compelling and unprecedented evidence, "Political Standards: Accounting for Legitimacy" documents how in subtle ways the rules of corporate accounting a critical institution in modern market capitalism have been captured to benefit industrial corporations, financial firms, and audit firms. In what is perhaps the only independent overview of the accounting industry, Karthik Ramanna begins with a history of corporate accounting and an accessible explanation of how it works today, including the essential roles it plays in defining the fundamental notion of profitability, facilitating asset allocation, and ensuring the accountability of corporations and their managers. From the evidence, Ramanna shows how accounting rule-makers selectively co-opt conceptual arguments from academia and elsewhere to advance the views of the special-interest groups. From this, Ramanna moves on to develop more broadly a new type of regulatory challenge that of producing public policy in a thin political market. His argument is that accounting rules cannot be determined without the substantial expertise and experience of groups that by definition also have strong commercial interests in the outcome." Political Standards" concludes with an exploration of possible solutions to the problem in accounting and that of thin political markets in general, charting avenues for scholarship and practice. Certain to be an eye-opening account of a massive industry central to the modern business world, "Political Standards "will be an essential resource in understanding how the rules of the game business are set, whom they inevitably favor, and how they can be changed for the better of society."

Behavioral Corporate Finance

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Publisher : College Ie Overruns
ISBN 13 : 9781259254864
Total Pages : 300 pages
Book Rating : 4.2/5 (548 download)

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Book Synopsis Behavioral Corporate Finance by : Hersh Shefrin

Download or read book Behavioral Corporate Finance written by Hersh Shefrin and published by College Ie Overruns. This book was released on 2017-04-16 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: