Restoring trust in American business / edited by Jay W. Lorsch, Leslie Berlowitz, and Andy Zelleke.

Format:

Book

Contributor:

Lorsch, Jay William.

Berlowitz, Leslie.

Zelleke, Andy.

American Academy of Arts and Sciences.

Language:

English

Subjects (All):

Corporate governance--United States.

Corporate governance.

Social responsibility of business--United States.

Social responsibility of business.

Physical Description:

1 online resource (184 p.)

Place of Publication:

Cambridge, Mass. : American Academy of Arts and Sciences : MIT Press, c2005.

Language Note:

English

Summary:

Recent business scandals point to a disturbing breakdown of values in corporate America. This book responds to the crisis by examining the responsibilities of "gatekeepers"--corporate directors, regulators, auditors, lawyers, investment bankers, and business journalists--who stand between corporate misconduct and the public. The essays, by prominent scholars and practitioners, argue that market pressures have made gatekeepers too focused on financial self-interest and too heedless of the public good to live up to society's legitimate expectations. A key part of the book is a set of recommendations for enhancing gatekeeper professionalism. These range from specific steps for improving boards of directors to a call for the investment banking community to establish a uniform code of conduct and articulate its obligations to the investing public.This book grew out of the Corporate Responsibility Project undertaken by the American Academy of Arts and Sciences. The contributors come from institutions ranging from Wall Street and the nation's leading law and business schools to the AFL-CIO; they include such prominent figures as John S. Reed of the New York Stock Exchange, investment banker Felix Rohatyn, corporate lawyer Martin Lipton, and media commentator and professor of journalism Geneva Overholser.

Contents:

The inevitable instability of American corporate governance / Mark J. Roe

Values and corporate responsibility : a personal perspective / John S. Reed

Management as a profession / Rakesh Khurana, Nitin Nohria, and Daniel Penrice

The regulators and the financial scandals / Donald C. Langevoort

The professionalization of corporate directors / Martin Lipton and Jay W. Lorsch ; Comment : Should directors be professionals? / Margaret M. Blair ; Comment : Professionalization does not mean power or accountability / Damon Silvers ; Comment : The limits of corporate law in promoting good corporate governance / Michael Klausner

The auditor as gatekeeper : a perilous expectations gap / William R. Kinney, Jr. ; Comment : The audit and the auditor's central role / John H. Biggs

Professional independence and the corporate lawyer / William T. Allen and Geoffrey Miller ; Comment : The dubious history and psychology of clubs as self-regulatory organizations / Richard W. Painter

The financial scandals and the demise of the traditional investment banker / Felix G. Rohatyn ; Comment : Toward a higher standard of conduct in investment banking / Gerald Rosenfeld

Journalists and the corporate scandals : what happened to the watchdog? / Geneva Overholser

Report of the American Academy's Corporate Responsibility Steering Committee / Corporate Responsibility Steering Committee ; Steering Committee report and recommendations.

Notes:

"Report of the American Academy of Arts and Sciences"--Page 4 of cover.

Includes bibliographical references and index.

Description based upon print version record.

ISBN:

9786612097201

9780262279567

9780262307901

0262307901

9780262278560

0262278561

9781282097209

1282097202

9781423746850

1423746856

OCLC:

939263563