Corruption in corporate America: who is responsible? who will protect the public interest?
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Lanham [u.a.]
Univ. Press of America
2007
|
| Ausgabe: | 2. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XII; 230 S. |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text | Titel: Corruption in corporate America
Autor: Gitlow, Abraham L
Jahr: 2007
Contents
Preface ix
Chapter I: Introduction 1
The Context 1
Can Free Market Capitalism and Conscience Coexist? 2
Are Self-Interest and the Profit Motive Necessarily in Conflict
With the Moral Claims of Conscience? 3
Welfare Capitalism: Capitalism With a Conscience 4
Welfare Capitalism and Checks and Balances at Work 6
Chapter II: Management 9
Management as the Repository of Organizational Power
in Public Corporations 9
The Separation of Shareholder Ownership and
Management Control: The Relocation of Power 11
The Centralization of Power in the Imperial Executive 13
Power and the Self-Perception of the Imperial CEO 16
B-School Education and Business Behavior 17
Are Shareholder Interests and Management Incentives
Aligned Through Performance-Based Compensation Plans? 20
The Impact of the Sarbanes-Oxley Act 25
What is the CEO Required to Know: The Cendant Case 33
Chapter III: The Board of Directors 37
Who Holds the Power?
Clouding the Picture: Majority Control
37
40
Board Composition: Impact of Sarbanes-Oxley 46
Board Structure: Impact of Sarbanes-Oxley 49
The Director s Job: Then and Now 52
Examples of External Pressure: NYSE, Disney, and MBNA 57
Chapter IV: The Accountants 67
The Nature of the Profession 67
The Financial Accounting Standards Board 70
The Importance of Estimation 72
The Auditing-Consulting Conflict 74
Would Disclosure Ease the Problem? 76
The Impact of Sarbanes-Oxley 77
International Accounting Standards 82
Chapter V: The Lawyers 85
The Concept of Law 85
The Code of Conduct 86
Confidentiality, Fraud, Disclosure, and Sarbanes-Oxley 89
Conflicts of Interest and Disclosure 92
Independence From External Power 94
Zeal and the Adversarial Nature of the Judicial System 95
The Class Action Suit 96
The Opinion Letter 98
Chapter VI: Investment Bankers, Financial Analysts,
and Institutional Investors 101
Investment Bankers 101
The Financial Analysts 106
Institutional Investors 109
The Impact of Sarbanes-Oxley 115
Chapter VII: The Regulators 119
The Regulatory Objective 119
The Regulatory Structure 119
The SEC and the PCAOB (Also Fannie Mae and Freddie Mac) 121
The States Attorney Generals and Regulatory Agencies 135
Plea Bargaining 142
The Securities Exchanges 145
International and National Exchange Consolidations 151
Professional Associations 153
Warning! Regulation is not a Final Solution: The Refco Case 156
Chapter VIII: Protecting the Public Interest 161
Behavior Modification 161
Enhancement of Shareholder Influence Over
Corporate Directors 162
Improvement of Regulatory Consistency and Enforcement
of the Law 163
Reduction and Containment of the Power of Political
Pressure by Special Interests 164
Revival of a Sense of Individual Responsibility 165
Strengthening the Ethical Component in B-School Education 166
The Danger of Over-Regulation 167
Speaking to Power 169
Appendix I: In Defense of Sarbanes-Oxley
by Paul Volcker and Arthur Levitt, Jr. 171
Appendix II: To Save New York, Learn From London
by Charles E. Schumer and Michael R. Bloomberg 175
Appendix III: Threats to Sarbanes-Oxley: The Outlook
by Abraham L. Gitlow 179
An Omnibus Look at Sarbanes-Oxley 179
Costliness of Sarbanes-Oxley 197
Modifying the Impact of Sarbanes-Oxley 201
Protecting the Public Interest:
The Defenders of Sarbanes-Oxley 206
Index
About the Author
211
231
|
| adam_txt |
Titel: Corruption in corporate America
Autor: Gitlow, Abraham L
Jahr: 2007
Contents
Preface ix
Chapter I: Introduction 1
The Context 1
Can Free Market Capitalism and Conscience Coexist? 2
Are Self-Interest and the Profit Motive Necessarily in Conflict
With the Moral Claims of Conscience? 3
Welfare Capitalism: Capitalism With a Conscience 4
Welfare Capitalism and Checks and Balances at Work 6
Chapter II: Management 9
Management as the Repository of Organizational Power
in Public Corporations 9
The Separation of Shareholder Ownership and
Management Control: The Relocation of Power 11
The Centralization of Power in the Imperial Executive 13
Power and the Self-Perception of the Imperial CEO 16
B-School Education and Business Behavior 17
Are Shareholder Interests and Management Incentives
Aligned Through Performance-Based Compensation Plans? 20
The Impact of the Sarbanes-Oxley Act 25
What is the CEO Required to Know: The Cendant Case 33
Chapter III: The Board of Directors 37
Who Holds the Power?
Clouding the Picture: Majority Control
37
40
Board Composition: Impact of Sarbanes-Oxley 46
Board Structure: Impact of Sarbanes-Oxley 49
The Director's Job: Then and Now 52
Examples of External Pressure: NYSE, Disney, and MBNA 57
Chapter IV: The Accountants 67
The Nature of the Profession 67
The Financial Accounting Standards Board 70
The Importance of Estimation 72
The Auditing-Consulting Conflict 74
Would Disclosure Ease the Problem? 76
The Impact of Sarbanes-Oxley 77
International Accounting Standards 82
Chapter V: The Lawyers 85
The Concept of Law 85
The Code of Conduct 86
Confidentiality, Fraud, Disclosure, and Sarbanes-Oxley 89
Conflicts of Interest and Disclosure 92
Independence From External Power 94
Zeal and the Adversarial Nature of the Judicial System 95
The Class Action Suit 96
The Opinion Letter 98
Chapter VI: Investment Bankers, Financial Analysts,
and Institutional Investors 101
Investment Bankers 101
The Financial Analysts 106
Institutional Investors 109
The Impact of Sarbanes-Oxley 115
Chapter VII: The Regulators 119
The Regulatory Objective 119
The Regulatory Structure 119
The SEC and the PCAOB (Also Fannie Mae and Freddie Mac) 121
The States' Attorney Generals and Regulatory Agencies 135
Plea Bargaining 142
The Securities Exchanges 145
International and National Exchange Consolidations 151
Professional Associations 153
Warning! Regulation is not a Final Solution: The Refco Case 156
Chapter VIII: Protecting the Public Interest 161
Behavior Modification 161
Enhancement of Shareholder Influence Over
Corporate Directors 162
Improvement of Regulatory Consistency and Enforcement
of the Law 163
Reduction and Containment of the Power of Political
Pressure by Special Interests 164
Revival of a Sense of Individual Responsibility 165
Strengthening the Ethical Component in B-School Education 166
The Danger of Over-Regulation 167
Speaking to Power 169
Appendix I: In Defense of Sarbanes-Oxley
by Paul Volcker and Arthur Levitt, Jr. 171
Appendix II: To Save New York, Learn From London
by Charles E. Schumer and Michael R. Bloomberg 175
Appendix III: Threats to Sarbanes-Oxley: The Outlook
by Abraham L. Gitlow 179
An Omnibus Look at Sarbanes-Oxley 179
Costliness of Sarbanes-Oxley 197
Modifying the Impact of Sarbanes-Oxley 201
Protecting the Public Interest:
The Defenders of Sarbanes-Oxley 206
Index
About the Author
211
231 |
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| spelling | Gitlow, Abraham L. Verfasser aut Corruption in corporate America who is responsible? who will protect the public interest? Abraham L. Gitlow 2. ed. Lanham [u.a.] Univ. Press of America 2007 XII; 230 S. txt rdacontent n rdamedia nc rdacarrier Bedrijfsethiek gtt Bedrijfsleven gtt Corruptie gtt Ethik Business ethics United States Corporate governance Moral and ethical aspects United States Corporations Corrupt practices United States Korruption (DE-588)4032524-6 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Verenigde Staten gtt USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Unternehmen (DE-588)4061963-1 s Korruption (DE-588)4032524-6 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015920082&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Gitlow, Abraham L. Corruption in corporate America who is responsible? who will protect the public interest? Bedrijfsethiek gtt Bedrijfsleven gtt Corruptie gtt Ethik Business ethics United States Corporate governance Moral and ethical aspects United States Corporations Corrupt practices United States Korruption (DE-588)4032524-6 gnd Unternehmen (DE-588)4061963-1 gnd |
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| title | Corruption in corporate America who is responsible? who will protect the public interest? |
| title_auth | Corruption in corporate America who is responsible? who will protect the public interest? |
| title_exact_search | Corruption in corporate America who is responsible? who will protect the public interest? |
| title_exact_search_txtP | Corruption in corporate America who is responsible? who will protect the public interest? |
| title_full | Corruption in corporate America who is responsible? who will protect the public interest? Abraham L. Gitlow |
| title_fullStr | Corruption in corporate America who is responsible? who will protect the public interest? Abraham L. Gitlow |
| title_full_unstemmed | Corruption in corporate America who is responsible? who will protect the public interest? Abraham L. Gitlow |
| title_short | Corruption in corporate America |
| title_sort | corruption in corporate america who is responsible who will protect the public interest |
| title_sub | who is responsible? who will protect the public interest? |
| topic | Bedrijfsethiek gtt Bedrijfsleven gtt Corruptie gtt Ethik Business ethics United States Corporate governance Moral and ethical aspects United States Corporations Corrupt practices United States Korruption (DE-588)4032524-6 gnd Unternehmen (DE-588)4061963-1 gnd |
| topic_facet | Bedrijfsethiek Bedrijfsleven Corruptie Ethik Business ethics United States Corporate governance Moral and ethical aspects United States Corporations Corrupt practices United States Korruption Unternehmen Verenigde Staten USA |
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