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Every day, companies are faced with dozens, even hundreds, of critical decisions concerning the allocation of resources, financial and organizational structure, and strategic direction. Who should make these decisions? And who should be held accountable for their consequences? Boards of directors are the "watchers" who govern the destinies of today's corporations, and Robert Monks and Nell Minow have been watching over their actions for years. This...
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Corporate governance constitutes the internal and external institutions, markets, policies, and processes designed to help companies maximize their efficiency and value. In this collection of classic and current articles from the Journal of Applied Corporate Finance, thought leaders such as Michael Jensen and Robert Monks discuss the corporate mission of value maximization and the accomplishments and limitations of U.S. governance in achieving that...
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"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. Corporate Governance reveals why the market is the best guardian of shareholder interests."--Jacket.
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"In The Naked Corporation, they explain how the new transparency has caused a power shift toward customers, employees, shareholders, and other stakeholders; how and where information has exploded; and how corporations across many industries have seized on transparency not as a challenge but as an opportunity." "Drawing on such examples as Chiquita's total turnaround on matters of ethics, to Shell Oil's reinvention of itself as an environmentally focused...
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Since the mid-1980s two crises have overtaken governance of the American corporation - the loss of competitiveness in the 1980s and the loss of investor trust in financial management in the late 1990s. This book proposes specific changes in conduct to resolve these crises, principally by putting the board of directors in charge of management. The detailed analysis and critique of performance of governance specifies reforms that will make that possible....
Description
"This book examines the failure of "gatekeepers"--Corporate directors, regulators, auditors, lawyers, investment bankers, and business journalists - to stand between corporate misconduct and the public interest. Prominent scholars and corporate leaders argue that market pressures have made gatekeepers too focused on financial self-interest at the expense of the public good. Stronger professional standards are prescribed."--Jacket.
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The rapidly increasing complexity of societal systems increases the need for professionalism in management - one must be able to function reliably regardless of increasing management complexity in the twenty-first century. Fredmund Malik's new book is written for practitioners who bear responsibility for overall governance of their organizations and who are determined to carry out their tasks diligently, correctly, and well. It is intended, above...
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"In Corpocracy, longtime corporate lawyer, venture capitalist, and shareholder activist Robert Monks reveals how corporations seized control, how they abuse their power, and what we can - and must - do to rein them in. In this clear and careful analysis, Monks outlines a plan for reconciling the competing interests of corporations and society through thoughtful shareholder activism that protects the interests of corporations and everyone else. Shareholder...
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"In this work, Dan Krier examines the relationship between two phenomena that dominated the economic scene in the late twentieth century: the rising power of financial markets and the restructuring of American industry. He argues that corporate governance was transformed during this period into speculative teams of stock-optioned executives and activist owners. These teams encouraged a vigorous restructuring of American industry through corporate...
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Initial Public Offerings (IPOs) are unique economic and governance events as privately held firms issue common stock or shares to the public for the first time. The governance issues surrounding IPOs are relatively unexamined compared to more established, and usually larger, firms. As such, they provide a unique context to study corporate governance and its development around the world. Based on a collaborative international research project, this...
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"Pay without Performance presents a disconcerting portrait of executives' power to influence their own pay - and of the structural defects in corporate governance that give them this power. As this book demonstrates, boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. Lucian Bebchuk and Jesse Fried give a richly detailed account of how pay practices - from option plans to retirement benefits...
Description
Strong governance has long been linked to business performance. Damien Smith, lawyer and governance expert, covers a range of principles that will equip those charged with the responsibilities of governance to meet the dual imperatives of compliance and stakeholder needs. Topics include: how governance differs from management or leadership; what is driving the need for change in governance; key principles of governance; alternative approaches to governance;...
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