Download or read book Ensuring Corporate Misconduct written by Tom Baker and published by University of Chicago Press. This book was released on 2011-01-15 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shareholder litigation and class action suits play a key role in protecting investors and regulating big businesses. But Directors and Officers liability insurance shields corporations and their managers from the financial consequences of many illegal acts, as evidenced by the recent Enron scandal and many of last year’s corporate financial meltdowns. Ensuring Corporate Misconduct demonstrates for the first time how corporations use insurance to avoid responsibility for corporate misconduct, dangerously undermining the impact of securities laws. As Tom Baker and Sean J. Griffith demonstrate, this need not be the case. Opening up the formerly closed world of corporate insurance, the authors interviewed people from every part of the industry in order to show the different instances where insurance companies could step in and play a constructive role in strengthening corporate governance—yet currently do not. Ensuring Corporate Misconduct concludes with a set of readily implementable reforms that could significantly rehabilitate the system.
Download or read book Some Thoughts on the Porous Boundary Between Ordinary and Extraordinary Corporate Fraud Book Review of Ensuring Corporate Misconduct by Tom Baker and Sean J Griffith 2010 written by Miriam H. Baer and published by . This book was released on 2013 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book review of Tom Baker and Sean Griffith's 'Ensuring Corporate Misconduct'. Their book provides an exhaustive and illuminating analysis of how corporations contract for director and officer (D&O) liability insurance. Based on extensive interviews with insurance carriers and corporate risk officers, Baker and Griffith conclude that D&O liability insurance has created a moral hazard within the public corporation. Managers, who have incentives to take advantage of shareholders, are inadequately deterred by civil liability for securities fraud because D&O insurance effective shields them from any payout. Accordingly, Baker and Griffith argue for reforms that would reduce this moral hazard. Baker and Griffith's arguments are persuasive and should make any reader think twice about the value of D&O insurance. Their critique, however, seems to make light of the fact that corporate fraud can trigger criminal investigations, and ultimately criminal penalties for individuals who engage in or conspire to commit fraud. Although the authors agree that D&O insurance provides no protection against criminal penalties and investigations, they nevertheless presume that much of the conduct that gives rise to civil securities fraud litigation (so-called “ordinary fraud”) is unlikely to trigger criminal and public enforcement proceedings. This Review questions whether there in fact exists such a distinct boundary between “ordinary” and “extraordinary” corporate frauds. To the contrary, one would expect the rational corporate officer to be wary that any fraud case might trigger an investigation by public enforcers. If that is the case, then the porous boundary between criminal and civil fraud may lessen Baker and Griffith's rightful concerns about moral hazard. With these thoughts in mind, the Review then addresses several of Baker and Griffith's proposed reforms.
Download or read book Corporate Misconduct written by Margaret P. Spencer and published by Praeger. This book was released on 1995-03-21 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth discussion and analysis of corporate misconduct and its complexities. Volume editors and their contributors explore the legal, societal, and business ramifications; offer a wide range of real-world and theoretical examples and the lessons they teach; and provide practical recommendations to management for countering misconduct in their own organizations. The book is also a valuable resource for teachers and students of business ethics, management, and business-government relations.
Download or read book Competing Normative Frameworks and the Limits of Deterrence Theory written by Jodi L. Short and published by . This book was released on 2014 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay reviews the contributions to deterrence theory that Tom Baker and Sean Griffith make in Ensuring Corporate Misconduct (2010) and argues that their work highlights the limits of deterrence theory for shaping corporate conduct. Baker and Griffith extend the deterrence framework to account for the mediating effect of third-party institutions, like insurers, on deterrence calculations, and they suggest how corporate governance decisions, such as what type of insurance coverage to purchase, encode signals about corporations' compliance motivations and capacity. Although these insights might prove useful for enhancing the efficacy of deterrence regimes aimed at white-collar crime and other types of corporate misconduct, they suggest the difficulty of shaping corporate conduct that is influenced not only by the norms embodied in securities law, but also by the alternative normative system of shareholder value maximization. I discuss the failure of deterrence theory to address adequately noncompliant behavior that springs not solely from material self-interest, but from adherence to an alternative set of norms, and I explore the possibility of viewing corporate compliance as a norm-change project.
Download or read book Dirty Business written by Maurice Punch and published by SAGE. This book was released on 1996-09-27 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on both theory and major case studies, this book provides a much-needed sociological and comparative analysis of the world of the manager in the context of misconduct within business organizations. Organizational misbehaviour and crime have been relatively neglected in the social sciences, particularly in business studies. Analyses have tended to be fragmentary, overly slanted towards narrow external views - such as those of legal control and public policy - and predominantly North American. Dirty Business rectifies this by offering a broad sociological perspective related to work, organizations and management, supported by a range of key international case studies. In developing his arguments, Maurice Punch draws on primary and secondary sources as well as his extensive personal experience of teaching and interacting with managers and in developing courses on crisis and disaster management.
Download or read book Rotten written by Marc J. Epstein and published by . This book was released on 2020-10-19 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Misconduct written by and published by . This book was released on 1997 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Seminar in Corporate Misconduct written by John C. Coffee and published by . This book was released on 1983 with total page 2117 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Deterring Corporate Misconduct written by Duke University. School of Law and published by . This book was released on 1997* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance written by Kevin T. Abikoff and published by Law Journal Seminars Press. This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book describes step by step the measures needed to prevent criminal actions within a corporation and minimize the impact of misconduct that may have already occurred.
Download or read book Broken Business written by José R. Hernandez and published by John Wiley & Sons. This book was released on 2019-01-04 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent corporate scandals and fix good companies that do wrong The news media is replete with stories of corporate scandal, corruption and misdeeds. The need for effective crisis management and corporate governance strategies has never been greater. Broken Business explains why corporate scandals happen, what to do when scandals arise in your company, and how to prevent their future occurrence. Offering real-world anecdotes and solutions, this book details how corporations can mitigate the risk of scandal, reform corporate image and install structures to create a more ethical and profitable company. This insightful resource dispels common misconceptions of corporate misconduct and its causes through fascinating research into human nature, and compelling storytelling that demonstrates fundamental flaws in corporate culture. Author José Hernandez draws on decades of experience working with high-profile global corporations to present seven essential steps for transforming a company, including building a better culture, more effective compliance systems and re-focusing the strategy. This book allows you to: Examine current and highly publicized cases of corporate scandal and their impact on corporate credibility Employ practical methods to rehabilitate your corporation’s public image Implement managerial frameworks to quickly address cases of misconduct Promote a culture of compliance and integrity to encourage good conduct in your corporate environment At its core, this book is a simple, engaging “how to” guide that offers practical advice on institutionalizing integrity in any organization. Broken Business: Seven Steps to Reform Good Companies Gone Bad is an essential text for leaders seeking a concise review at how things can go wrong, how to deal with scandal fallout and how to ultimately become a better company.
Download or read book Dirty Business exploring Corporate Misconduct analysis written by maurice punch and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing the Aftermath of Corporate Misconduct written by Guido Henk Jan Berends and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Research Handbook on Corporate Crime and Financial Misdealing written by Jennifer Arlen and published by Edward Elgar Publishing. This book was released on 2018-04-28 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jennifer Arlen brings together 13 original chapters by leading scholars that examine how to deter corporate misconduct through public enforcement and private interventions. Scholars from a variety of disciplines present both theoretical and empirical analyses of organizational and individual liability for corporate crime, liability for foreign corruption, securities fraud enforcement, compliance, corporate investigations, and whistleblowing. This Research Handbook also highlights promising avenues for future research.
Download or read book Corporate Misconduct a Strategic Management Perspective written by Constantin Cornelius Meyer and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Crime Financial Fraud written by Miriam F. Weismann and published by . This book was released on 2012 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Corruption written by Marshall Clinard and published by Bloomsbury Publishing USA. This book was released on 1990-03-23 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the media have been full of stories about ethical decline. Illegal dealings have been uncovered in the banking and savings and loan industries as well as the highest levels of Congress and government administration. Even television evangelism has been seriously tarnished by scandal. Corporate Corruption is the first wide ranging book to turn the spotlight on the unethical and illegal behavior of America's giant corporations and their executives: the prestigious Fortune 500. While avoiding the undignified zealotry of tabloid muck-raking, this well-researched volume explores corporate abuse and examines the disparity between the facts of corporate misconduct and the glowing image that advertising and other media portray of these corporations. Marshall Clinard identifies the auto, oil, pharmaceutical, and defense industries as the major offenders. He devotes a chapter to each of these areas in addition to chapters on corporate violence, corporate bribery, and a final discussion of how to correct these widespread abuses. Although their massive productive capacities and innovative powers have contributed immeasurably to the high standard of living that many Americans enjoy, far too often corporations have abused the public trust, the people who use their products, their own employees and stockholders, the environment, and even the Third World that they profess to help. From illegally disposing of hazardous waste to defiance of health and safety standards to price-fixing, corporate violations cost hundreds of millions of dollars and thousands of lives. The magnitude of their offenses becomes clear when one considers that a single corporate offense may run into millions of dollars in losses, while the average cost of a burglary is $600 and the average larceny $400. In some cases, the cost of a single case of corporate misconduct may exceed a billion dollars. Having published three earlier books on corporate misbehavior and having received two grants from the U.S. Department of Justice to make specific corporate studies, Clinard is well-qualified to bring insight, experience, and unblinking scrutiny to what he describes as a story that must be told. Corporate Corruption is a must for anyone concerned about the widespread breakdown of ethics in contemporary society and the role played by large corporations when they abuse their power. It is also of interest to persons involved in business management, complex organizations, criminology, general ethics, and, in fact, to any responsible customer.
