Corporate governance regulation : how poor management is destroying the global economy / Nicholas V. Vakkur, Zulma J. Herrera.

Format:

Book

Author/Creator:

Vakkur, Nicholas V.

Contributor:

Herrera, Zulma J.

Series:

Wiley Finance

Wiley finance series

Language:

English

Subjects (All):

Corporate governance.

Corporate governance--Law and legislation.

Physical Description:

1 online resource (290 p.)

Edition:

1st edition

Other Title:

How poor management is destroying the global economy

Place of Publication:

Hoboken, N.J. : John Wiley & Sons, c2013.

Language Note:

English

System Details:

text file

Summary:

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 compe

Contents:

Cover; Title Page; Copyright; Contents; Preface; Introduction; Chapter 1 Virtue Lost; Introduction; Methodology; Methodological Limitations; The Modern Corporation and Virtue; The Problem; Business Ethics; Is the Corporation Disordered?; The Policy Framework; The Regulatory Telos; Why Consider Virtue?; Why Principles (over Rules)?; Why Amend (versus Punish)?; Policy Framework (Summary); Conclusions; Chapter 2 An Introduction to WorldCom: A Policy Primer; Introduction; WorldCom; The Source of Conflict; Rules versus Laws; The Case for Intentionality; Regulatory Contribution

WorldCom as a Basis for the Sarbanes-Oxley ActChapter 3 The Enactment Process; Introduction; The Enactment Process; Create a Crisis; Build a Consensus; Presume Success; Dismiss the Critics; The Law's Effects; Current Arguments in Favor of the Sarbanes-Oxley Act; Institutional Precedents; Chapter 4 CEO Perception; Summary; Introduction; Summary of Relevant Literature; Survey; Results; Discussion; Appendix to Chapter 4; Survey Instrument; Chapter 5 Sarbanes-Oxley's Effect on Investor Risk; Summary; Introduction; Extending CAPM; Hypotheses

Hypothesis 1: Sarbanes-Oxley Will Reduce Firms 'Risk-Adjusted ReturnsHypothesis 2: Sarbanes-Oxley Will Decrease Firms' Upside Risk; Hypothesis 3: Sarbanes-Oxley Will Decrease a Firm's Downside Risk; Evaluation of Risk; Risk Measures; Data and Empirical Model; Estimation and Results; Difference-in-Differences Analysis; Fixed Effects Estimation; Robustness Tests; Discussion; Global Regulatory Development (i.e., Ripple Effects); Chapter 6 An Audit of Sarbanes-Oxley; Introduction; A Conceptual Foundation; Internal Controls; The Audit Framework; Objectives versus Efficacy; Evaluative Framework

Effect on Unintentional Sources of ErrorEffect on Corporate Malfeasance; Conclusions; Chapter 7 The Underlying Vision; Econometrics in Policy Analysis; A Model Predicated on ``Unobservables''; Knowledge Limits; Social Causation Processes; Intentions (versus Outcomes); Conclusions; Chapter 8 The Argument for Accountability; Introduction; Professional Liability; Policy Misuse; The Case for Culpability; The Improbability of Accountability; Conclusions; Chapter 9 Why Sarbanes-Oxley?; Introduction; Methodology; The Port Huron Statement; Individualism; Egalitarianism; A Modern Demonstration

Why Sarbanes-Oxley?Notes; About the Authors; Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9781118645499

1118645499

9781283960595

1283960591

9781118496312

1118496310

9781118496367

1118496361

OCLC:

809789748