Corporate governance after the financial crisis:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Oxford [u.a.]
Oxford Univ. Press
2012
|
| Subjects: | |
| Online Access: | Klappentext Inhaltsverzeichnis |
| Item Description: | Literaturangaben und Index Hier auch später erschienene, unveränderte Nachdrucke |
| Physical Description: | X, 283 S. |
| ISBN: | 9780199772421 9780190496678 |
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MARC
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Record in the Search Index
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| adam_text | The first decade of the new millennium was
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-
OxteyAct, which was directed at core
aspects of corporate governance. At the
end of the decade the housing bubble burst,
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 finan¬
cial regulation. Among these changes were
a number of significant corporate gover¬
nance reforms.
Corporate Governance after the Finan¬
cial 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 en¬
gaged 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 analyz¬
es these changes in the context of corporate
governance, executive compensation, cor¬
porate fraud and disclosure, shareholder
activism, corporate democracy, and declin¬
ing U.S. capital market competitiveness.
STEPHEN BAINBRIDGE is the William D.
Warren Distinguished Professor of Law at
UCLA, where he teaches Business Associa¬
tions, Advanced Corporation Law, and a
seminar on corporate governance. He has
also taught at Harvard Law School as the
Joseph Flom Visiting Professor of Law and
Business, La Trobe University in Melbourne,
and at Aoyama Gakuin University in Tokyo.
In
2008,
Professor Bainbridge received the
UCLA School of Law s
Rutter
Award for
Excellence in Teaching. Also, in
2008
and
again in
2011,
he was named by Directorship
magazine to its list of the
100
most influential
people in the field of corporate governance.
Professor Bainbridge is a prolific
scholar. He has written more than seventy-
five law review articles that have appeared
in such leading journals as Harvard Law
Review, Virginia Law Review, Northwestern
University Law Review, Cornell Law Review,
Stanford Law Review, and Vanderbilt Law
Review. His most recent books include:
The New Corporate Governance in Theory
and Practice [Oxford University Press,
2008);
Securities Law-Insider Trading
(2nd
ed., 2007I;
Business Associations: Cases
and Materials on Agency, Partnerships, and
Corporations (6th
ed.,
2006, with Klein and
Ramseyer); Agency, Partnerships, and Lim¬
ited Liability Entities: Cases and Materials
on Unincorporated Business Associations
(2nd ed., 2007,
with Klein and Ramseyerl;
Agency, Partnerships
&
LLCs
(200Д);
and
Corporation Law and Economics
(2002).
Professor Bainbridge currently serves
on the American Bar Association s Commit¬
tee on Corporate Laws and on the Editorial
Advisory Board of the Journal of Markets
and Morality.
JACKET DESIGN:
JEANETTE
LEVY
JACKET IMAGE: ISTOCKPHOTO
IMAGE 1
CONTENTS
ACKNOWLEDGMENTS VII ABOUT THE AUTHOR IX
INTRODUCTION 1 WHAT IS CORPORATE GOVERNANCE? 2 THE CRISES AND THE
FEDERAL RESPONSES 3 THE PLAN OF THE WORK 16 A NOTE ON OMISSIONS 19 1.
WHO MAKES THE RULES? 21
DOES DELAWARE COMPETE HORIZONTALLY? 21 THE EMERGENCE OF THE NORTH DAKOTA
ALTERNATIVE 25 DELAWARE S VERTICAL COMPETITION 27 WHERE WAS DELAWARE
DURING THE CRISES? 39 QUACK FEDERAL CORPORATE GOVERNANCE REGULATION 41
2. THE BOARD S ROLE 43
THE BOARD S TRADITIONAL FUNCTIONS 44 THE RISE OF THE MONITORING BOARD 50
CODIFYING THE MONITORING MODEL 58 ASSESSING THE MONITORING MODEL 61
BOARDS AFTER THE CRISES 65 WHY A BOARD? 67 3. DIRECTOR INDEPENDENCE 77
DIRECTOR INDEPENDENCE IN STATE LAW 79
DIRECTOR INDEPENDENCE IN THE STOCK EXCHANGE LISTING STANDARDS AND THE
SARBANES-OXLEY ACT 81 THE UNCERTAIN CASE FOR DIRECTOR INDEPENDENCE 86
INCENTIVIZING THE INDEPENDENTS 92 WHAT HAVE WE LOST? 102
DID THE FETISH FOR INDEPENDENCE CONTRIBUTE TO THE FINANCIAL CRISIS? 103
A NOTE ON CEO/CHAIRMAN DUALITY 104
IMAGE 2
4. EXECUTIVE COMPENSATION 109
WHY DO WE CARE? 109 EXECUTIVE COMPENSATION UNDER STATE CORPORATE LAW 120
EXECUTIVE COMPENSATION REGULATION UNDER SARBANES-OXLEY AND DODD-FRANK
122 5. INTERNAL CONTROLS 139
THE AUDIT COMMITTEE 142 INTERNAL CONTROLS 147 INTERNAL CONTROLS-STATE
LAW 149 INTERNAL CONTROLS-SARBANES-OXLEY 155
INTERNAL CONTROLS-RISK MANAGEMENT 166 6. THE GATEKEEPERS 179 THE
AUDITORS 181
THE LAWYERS 188 7. SHAREHOLDER EMPOWERMENT 203 SHAREHOLDER RIGHTS IN
STATE LAW 204 BYLAW AMENDMENT VIA SHAREHOLDER PROPOSAL 206
MAJORITY VOTING 216 PROXY EXPENSE REIMBURSEMENT 221 PROXY ACCESS 222
ASSESSING SHAREHOLDER EMPOWERMENT 233
IF INVESTORS VALUED GOVERNANCE PARTICIPATION RIGHTS, THE MARKET WOULD
PROVIDE THEM 255 A NOTE ON PROXY ADVISORY FIRMS 255 A NOTE ON THE
GOVERNMENT AS SHAREHOLDER 259 CONCLUSION 261
THE GLOBAL IMPACT OF FEDERALIZING CORPORATE GOVERNANCE 261 CAN ANYTHING
BE DONE? 268 IN CLOSING 270
INDEX 271
[VI] CONTENTS
|
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| discipline | Rechtswissenschaft Wirtschaftswissenschaften |
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| spelling | Bainbridge, Stephen M. 1958- Verfasser (DE-588)173626998 aut Corporate governance after the financial crisis Stephen M. Bainbridge Oxford [u.a.] Oxford Univ. Press 2012 X, 283 S. txt rdacontent n rdamedia nc rdacarrier Literaturangaben und Index Hier auch später erschienene, unveränderte Nachdrucke Recht Corporate governance Law and legislation United States Global Financial Crisis, 2008-2009 Finanzkrise (DE-588)7635855-0 gnd rswk-swf Gesetzgebung (DE-588)4020682-8 gnd rswk-swf Corporate Governance (DE-588)4419850-4 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Corporate Governance (DE-588)4419850-4 s Gesetzgebung (DE-588)4020682-8 s Finanzkrise (DE-588)7635855-0 s DE-604 Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024411288&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Klappentext SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024411288&sequence=000005&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bainbridge, Stephen M. 1958- Corporate governance after the financial crisis Recht Corporate governance Law and legislation United States Global Financial Crisis, 2008-2009 Finanzkrise (DE-588)7635855-0 gnd Gesetzgebung (DE-588)4020682-8 gnd Corporate Governance (DE-588)4419850-4 gnd |
| subject_GND | (DE-588)7635855-0 (DE-588)4020682-8 (DE-588)4419850-4 (DE-588)4078704-7 |
| title | Corporate governance after the financial crisis |
| title_auth | Corporate governance after the financial crisis |
| title_exact_search | Corporate governance after the financial crisis |
| title_full | Corporate governance after the financial crisis Stephen M. Bainbridge |
| title_fullStr | Corporate governance after the financial crisis Stephen M. Bainbridge |
| title_full_unstemmed | Corporate governance after the financial crisis Stephen M. Bainbridge |
| title_short | Corporate governance after the financial crisis |
| title_sort | corporate governance after the financial crisis |
| topic | Recht Corporate governance Law and legislation United States Global Financial Crisis, 2008-2009 Finanzkrise (DE-588)7635855-0 gnd Gesetzgebung (DE-588)4020682-8 gnd Corporate Governance (DE-588)4419850-4 gnd |
| topic_facet | Recht Corporate governance Law and legislation United States Global Financial Crisis, 2008-2009 Finanzkrise Gesetzgebung Corporate Governance USA |
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