Disorganized crimes: why corporate governance and government intervention failed, and what we can do about it
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2013
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Incl. bibliogr. references (S. 290-300) and indexes |
| Beschreibung: | XIII, 315 S. Ill., graph. Darst. |
| ISBN: | 9781137330260 |
Internformat
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Datensatz im Suchindex
| _version_ | 1804152424053604352 |
|---|---|
| adam_text | Titel: Disorganized crimes
Autor: Munk, Bernard E
Jahr: 2013
Contents
List of Tables x
List of Figures xi
Acknowledgments xii
1 Who s the Fish? 1
2 Behind Every Great Fortune Is a Great Crime 13
The Great Heists of History 13
The Credit Crisis was Disorganized Crime 15
3 Seeing One s Friends Getting Rich Is Upsetting 18
Boom-Bust, Financial Scandal and Governance 18
An Assessment 25
4 Round Up the Usual Suspects 31
Incentives for Misgovernance 31
Conspiracy or Self-Delusion 38
5 Carrots for Good Governance 46
Good Governance Requires Proper Incentives 46
Failures of Rear View Mirror Reforms 50
Creating Incentives for Good Corporate Governance 52
6 The Conflicts of Managerial Capitalism 61
The Permanent Conflict of Interest 61
The Paradox of Corporate Governance Failures 63
The Agency Problem 71
Performance Pay: A Two-Edged Sword 73
Unlearned Lessons in Supervising Risk Management 76
7 Call Them Disorganized Crimes 79
Other People s Property 79
Common Themes of Disorganized Crimes 95
8 Connecting the Dots 100
Disorganized Crimes: Origins and Consequences 100
Wealth Effects of Option Compensation 107
Economic Motivation 108
Uncertainty and the Environment for Producing Collusion 112
Gatekeeping; Regulation and Incentives 114
9 The Corporate Governance Dilemma 118
What Do We Want From Our System? 118
Panics, Uncertainty and Institutional Change 120
Central Issues 128
A Fatal Flaw in Contemporary Corporate Governance 135
10 Micro Risks and Macro Disturbances 137
Credit Default Swaps 143
Reflexivity 145
11 Crime and Punishment 150
12 Foolish Bankers and Burdened Taxpayers 161
Pay Me Now or Pay Me Later 161
Too Big to be Allowed to Fail: AIG and the GSEs 168
13 No Place to Hide 175
Public Markets and Public Policy 175
Public Policy Regarding Corporate Defaults 181
Moral Hazard 182
Political Governance - Contradictions in Public Policy
Stances 184
14 Remediation 188
The Partnering of Markets and Regulations 188
A Framework for Remediation 190
Risk Management Committee 191
RMC Member Qualifications 193
Expert Board Members 193
Director Liability 195
Director s Insurance 195
Director Independence 196
Separating the Offices of Chairman and CEO 196
Appointment of Directors and Terms of Office 197
Term Limits 198
Compensation Systems and internal promotion standards 199
Using Outside Compensation Experts 200
Dealing with Capital Market Conspirators 202
Capital Market Servicer Liability 203
Term Limits for Capital Market Servicers 204
Rating Agencies Once More 205
Banks and Other Financial Intermediaries 206
Is the Market a Casino? 207
The Role of Government 208
Other Market Responses to Deficient Corporate Governance 209
15 Financial Alchemy 212
Enron Era v. Credit Crisis: Déjà Vu All Over Again? 212
Buildup to the Credit Crisis of 2007-08 214
Nesting: Birds of a Feather 220
Market Failures or Market-Centered Solutions 221
Bankruptcy as a Market Driven Process 223
Forgetting Nothing and Learning Something: Observations
and Conclusions on Corporate Governance and
Institutional Change 223
16 Epilogue 228
Notes 236
Bibliography 290
Author Index 301
Subject Index 303
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| spelling | Munk, Bernard E. Verfasser aut Disorganized crimes why corporate governance and government intervention failed, and what we can do about it Bernard E. Munk 1. publ. Basingstoke [u.a.] Palgrave Macmillan 2013 XIII, 315 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Incl. bibliogr. references (S. 290-300) and indexes Enron Corp. (DE-588)5324525-8 gnd rswk-swf Geschichte 1990-2008 gnd rswk-swf Corporate governance / United States Corporations / Corrupt practices / United States Corporate culture / United States / Case studies Financial crises / United States BUSINESS & ECONOMICS / Corporate Finance bisacsh BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Economics / Theory bisacsh Corporate culture fast Corporate governance fast Corporations / Corrupt practices fast Financial crises fast Wirtschaft Corporate Governance (DE-588)4419850-4 gnd rswk-swf Wirtschaftskriminalität (DE-588)4066464-8 gnd rswk-swf Weltwirtschaftskrise (DE-588)4065471-0 gnd rswk-swf United States fast USA (DE-588)4522595-3 Fallstudiensammlung gnd-content Enron Corp. (DE-588)5324525-8 b Corporate Governance (DE-588)4419850-4 s Wirtschaftskriminalität (DE-588)4066464-8 s Weltwirtschaftskrise (DE-588)4065471-0 s Geschichte 1990-2008 z DE-188 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027451565&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Munk, Bernard E. Disorganized crimes why corporate governance and government intervention failed, and what we can do about it Enron Corp. (DE-588)5324525-8 gnd Corporate governance / United States Corporations / Corrupt practices / United States Corporate culture / United States / Case studies Financial crises / United States BUSINESS & ECONOMICS / Corporate Finance bisacsh BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Economics / Theory bisacsh Corporate culture fast Corporate governance fast Corporations / Corrupt practices fast Financial crises fast Wirtschaft Corporate Governance (DE-588)4419850-4 gnd Wirtschaftskriminalität (DE-588)4066464-8 gnd Weltwirtschaftskrise (DE-588)4065471-0 gnd |
| subject_GND | (DE-588)5324525-8 (DE-588)4419850-4 (DE-588)4066464-8 (DE-588)4065471-0 (DE-588)4522595-3 |
| title | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it |
| title_auth | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it |
| title_exact_search | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it |
| title_full | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it Bernard E. Munk |
| title_fullStr | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it Bernard E. Munk |
| title_full_unstemmed | Disorganized crimes why corporate governance and government intervention failed, and what we can do about it Bernard E. Munk |
| title_short | Disorganized crimes |
| title_sort | disorganized crimes why corporate governance and government intervention failed and what we can do about it |
| title_sub | why corporate governance and government intervention failed, and what we can do about it |
| topic | Enron Corp. (DE-588)5324525-8 gnd Corporate governance / United States Corporations / Corrupt practices / United States Corporate culture / United States / Case studies Financial crises / United States BUSINESS & ECONOMICS / Corporate Finance bisacsh BUSINESS & ECONOMICS / Finance bisacsh BUSINESS & ECONOMICS / Economics / Theory bisacsh Corporate culture fast Corporate governance fast Corporations / Corrupt practices fast Financial crises fast Wirtschaft Corporate Governance (DE-588)4419850-4 gnd Wirtschaftskriminalität (DE-588)4066464-8 gnd Weltwirtschaftskrise (DE-588)4065471-0 gnd |
| topic_facet | Enron Corp. Corporate governance / United States Corporations / Corrupt practices / United States Corporate culture / United States / Case studies Financial crises / United States BUSINESS & ECONOMICS / Corporate Finance BUSINESS & ECONOMICS / Finance BUSINESS & ECONOMICS / Economics / Theory Corporate culture Corporate governance Corporations / Corrupt practices Financial crises Wirtschaft Corporate Governance Wirtschaftskriminalität Weltwirtschaftskrise United States USA Fallstudiensammlung |
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