corporate governance promises kept promises broken

Download Book Corporate Governance Promises Kept Promises Broken in PDF format. You can Read Online Corporate Governance Promises Kept Promises Broken here in PDF, EPUB, Mobi or Docx formats.

Corporate Governance

Author : Jonathan R. Macey
ISBN : 0691148023
Genre : Business & Economics
File Size : 52. 71 MB
Format : PDF, Mobi
Download : 167
Read : 204

Download Now


Even in the wake of the biggest financial crash of the postwar era, the United States continues to rely on Securities and Exchange Commission oversight and the Sarbanes-Oxley Act, which set tougher rules for boards, management, and public accounting firms to protect the interests of shareholders. Such reliance is badly misplaced. In Corporate Governance, Jonathan Macey argues that less government regulation--not more--is what's needed to ensure that managers of public companies keep their promises to investors. Macey tells how heightened government oversight has put a stranglehold on what is the best protection against malfeasance by self-serving management: the market itself. Corporate governance, he shows, is about keeping promises to shareholders; failure to do so results in diminished investor confidence, which leads to capital flight and other dire economic consequences. Macey explains the relationship between corporate governance and the various market and nonmarket institutions and mechanisms used to control public corporations; he discusses how nonmarket corporate governance devices such as boards and whistle-blowers are highly susceptible to being co-opted by management and are generally guided more by self-interest and personal greed than by investor interests. In contrast, market-driven mechanisms such as trading and takeovers represent more reliable solutions to the problem of corporate governance. Inefficient regulations are increasingly hampering these important and truly effective corporate controls. Macey examines a variety of possible means of corporate governance, including shareholder voting, hedge funds, and private equity funds. Corporate Governance reveals why the market is the best guardian of shareholder interests.

Corporate Governance Regulation

Author : Nicholas V. Vakkur
ISBN : 9781118496374
Genre : Business & Economics
File Size : 28. 72 MB
Format : PDF, Docs
Download : 816
Read : 737

Download Now


Why U.S. corporate governance regulation has lost its way, and what must be done to improve it Modern history persuasively demonstrates the inexorable link that binds comprehensive regulation to the global economy. This important book, rather than simply recount a litany of corporate governance failures, persuasively explains why, despite policymakers' best intentions, regulation has failed in the modern era. An objective study intended for a diverse readership, Corporate Governance Regulation unveils the underlying, root causes of regulatory failure. The result: A compelling and original analysis, broadly suited for a global audience of all backgrounds. Written by published, subject-area experts, the authors carefully delineate how U.S. corporate governance regulation, beginning with Sarbanes Oxley, lacks an adequate rational basis, as may be attributed to a non-existent policy dialogue The witnessed result: A conspicuous lack of regulatory efficacy, enormous costs, coupled with paltry benefits The focus is upon reigniting a stalled, non-productive policy dialogue, by eschewing stale, overly-polemicized arguments, as needed to develop a common ground Drawing from an eclectic, analytic framework, governance experts Nicholas Vakkur and Zulma Herrera offer both the professional and global citizen alike a multi-dimensional understanding of issues critical to global economic health. Nuanced and persuasively argued, Corporate Governance Regulation represents a formidable catalyst in the elusive, ongoing quest for global economic stability.

The Eu Issuer Disclosure Regime

Author : Gaëtane Schaeken Willemaers
ISBN : 9789041133946
Genre : Business & Economics
File Size : 46. 69 MB
Format : PDF, Docs
Download : 677
Read : 1147

Download Now


The issuance of equity via government-regulated capital markets is an important source of corporate finance. This is an opinion endorsed by many influential policymakers and authors, many of whom add, however, that over-regulation can undermine competitive advantage and thus a nation's economic growth. The author of this provocative book sets out to show that the tendency towards 'more disclosure' that is usually the immediate regulatory response to financial market crises may be misconceived; what is required, she contends, is a thoughtful search for the true objectives of disclosure - the most advantageous (for all) cost-benefit analysis of any proposed regulatory path. In this book she provides just such a search and analysis, using as a springboard the 'disclosure and transparency agenda' started with the EU Financial Services Action Plan of 1999. In an examination that is at once critical, comparative and interdisciplinary, the book discusses the stated objectives of the EU issuer-disclosure regime - principally about retail investor protection - and then goes on to identify objectives that can actually be met in practice, i.e. market efficiency and corporate governance. The author concludes by drawing concrete policy and regulatory implications, along the way covering such aspects and ramifications of the regime as the following: ; the need for retail investor protection; the relevance of education programmes for retail investors and of their involvement in the law-making process; ; the importance of behavioural researches; market efficiency and its impact on the performance of the economy; the concepts of 'relative' as opposed to 'perfect' market efficiency; shareholders' engagement in corporate affairs; the importance of more sophisticated market actors; the addressees of the issuer-disclosure regime; reducing, where possible, the costs for issuers to enter European regulated markets; the importance of the investor-investment firm (or other financial intermediary) relationship; content, level and format of issuer-disclosure; quality of issuer-disclosure; the importance of enforcement of disclosure requirements, including a proper civil liability regime in case of violation of the EU issuer-disclosure regime; and the importance of complementary substantive rules. In its defence of the power of market forces as regulatory means, and its clear argument that market finance should be seen at a minimum as a useful complement to bank credit and other financing sources, this important book can claim a privileged space in the debate over the role of disclosure requirements in securities regulation.

Corporate Governance And Shareholder Empowerment

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
ISBN : PURD:32754081070405
Genre : Business & Economics
File Size : 50. 36 MB
Format : PDF, ePub
Download : 439
Read : 898

Download Now



The Death Of Corporate Reputation

Author : Jonathan Macey
ISBN : 9780133039719
Genre : Business & Economics
File Size : 63. 97 MB
Format : PDF, Mobi
Download : 676
Read : 1296

Download Now


Why did the financial scandals really happen? Why are they continuing to happen? In The Death of Corporate Reputation, Yale's Jonathan Macey reveals the real, non-intuitive reason, and offers a new path forward. For over a century law firms, investment banks, accounting firms, credit rating agencies and companies seeking regular access to U.S. capital markets made large investments in their reputations. They treated customers well and sometimes endured losses in transactions or business deals in order to sustain and nurture their reputations as faithful brokers and “gate-keepers.” This has changed completely . The existing business model among leading participants in today’s capital markets no longer treats customers as valued clients whose trust must be earned and nurtured, but as one-off “counter-parties” to whom no duties are owed and no loyalty is required . The rough and tumble norms of the market-place have replaced the long-standing reputational model in U.S. finance. This book describes the transformation in American finance from the old reputational model to the existing laissez faire model and argues that the change came as a result of three factors: (1) the growth of reliance on regulation rather than reputation as the primary mechanism for protecting customers and (2) the increasing complexity of regulation, which made technical expertise rather than reputation the primary criterion on which customers choose who to do business with in today’s markets ; and (3) the rise of the “cult of personality” on Wall Street, which has led to a secular demise in the relevance of companies’ reputations and the concomitant rise of individual “rain-makers” reputation as the basis for premium pricing of financial services. This compelling book will drive the debate about the financial crisis and financial regulation for years to come -- both inside and outside the industry.

Florida Law Review

Author :
ISBN : OSU:32437123390144
Genre : Law
File Size : 75. 11 MB
Format : PDF, Docs
Download : 756
Read : 1322

Download Now



Symposium

Author : Deborah L. Rhode
ISBN : STANFORD:36105063781517
Genre : Law
File Size : 83. 57 MB
Format : PDF, ePub
Download : 433
Read : 455

Download Now



The British National Bibliography

Author : Arthur James Wells
ISBN : STANFORD:36105211722678
Genre : English literature
File Size : 47. 7 MB
Format : PDF, Docs
Download : 454
Read : 749

Download Now



Politeia

Author : Plato
ISBN : 353424060X
Genre :
File Size : 58. 75 MB
Format : PDF, Docs
Download : 853
Read : 430

Download Now



Corporate Governance

Author : Walter Effross
ISBN : STANFORD:36105134498224
Genre : Business & Economics
File Size : 27. 91 MB
Format : PDF, ePub
Download : 726
Read : 1311

Download Now


The first law school text in its field, Corporate Governance: Principles and Practices focuses on the theory and practice of balancing power among corporate directors, officers, shareholders, and "stakeholders." A superb teacher, Walter Effross brings his subject to life with a vibrant writing style, examples from popular culture, annotated sample documents, drafting exercises, and an innovative "Shareholder's Menu" in the appendix. Corporate Governance: Principles and Practice features: summaries and explanations of contrasting schools of thought, including contractarianism, communitarianism, and the strengths and limitations of emerging academic approaches, such as empiricism, behavioral economics, and the study of international "convergence" of corporate governance an accessible selection of excerpts from the classic and the latest judicial decisions, with a concise treatment of factual and procedural context incisive notes that explore and explain the case excerpts and offer commentary on reactions from other courts, commentators, counsel, and executives engaging examples from the headlines and popular culture that illustrate important principles and spark class discussion detailed examinations of issues of corporate social responsibility, and of legal ethics in representing corporations, directors, officers, and/or shareholders annotated sample documents and drafting exercises hundreds of suggestions for paper topics on emerging and unsettled aspects of governance theory and practice an appendix providing additional advice for identifying, selecting, refining, and developing topics for papers and articles on corporate governance an appendix listing useful Web sites and "Readings Beyond the Syllabus" a Shareholder's Menu that categorizes and summarizes more than seventy separate initiatives that shareholder activists and commentators have proposed Finally! A law school text dedicated to the burgeoning field of corporate governance! Ideal for Advanced Corporate Law, Corporate Governance, Corporate Law (as a supplement), Business Planning, Legal Drafting, and related topics, Corporate Governance: Principles and Practices is the practical book you've been waiting for.

Top Download:

Best Books