The years from 2000 to 2010 were bookended by two major economic crises. The bursting of the dotcom bubble and the extended bear market of 2000 to 2002 prompted Congress to pass the Sarbanes-Oxley Act, which was directed at core aspects of corporate governance. At the end of the decade came the bursting of the housing bubble, followed by a severe credit crunch, and the worst economic downturn in decades. In response, Congress passed the Dodd-Frank Act, which changed vast swathes of financial regulation. Among these changes were a number of significant corporate governance reforms. Corporate Governance after the Financial Crisis asks two questions about these changes. First, are they a good idea that will improve corporate governance? Second, what do they tell us about the relative merits of the federal government and the states as sources of corporate governance regulation? Traditionally, corporate law was the province of the states. Today, however, the federal government is increasingly engaged in corporate governance regulation. The changes examined in this work provide a series of case studies in which to explore the question of whether federalization will lead to better outcomes. The author analyzes these changes in the context of corporate governance, executive compensation, corporate fraud and disclosure, shareholder activism, corporate democracy, and declining US capital market competitiveness.
Forty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Shareholders were essentially powerless and typically quiescent. Boards of directors were little more than rubber stamps. Today, the corporate governance landscape looks vastly different. The fall-out from the post-Enron scandal and implementation of the Sarbanes-Oxley Act have resulted in shareholder activism becoming more widespread, while many observers call for even greater empowerment. The notion that the board of directors is a mere pawn of top management is increasingly invalid, and as a result, modern boards of directors typically are smaller than their antecedents, meet more often, are more independent from management, own more stock, and have better access to information. The New Corporate Governance in Theory and Practice offers an interdisciplinary analysis of the emerging board-centered system of corporate governance. It draws on doctrinal legal analysis, behavioral economic insights into how individuals and groups make decisions, the work of new institutional economics on organizational structure, and management studies of corporate governance. Using those tools, Stephen Bainbridge traces the process by which this new corporate governance system emerged, and explores whether such changes are desirable or effective.
This title provides an interdisciplinary analysis of the emerging board-centred system of corporate governance. The book draws on legal analysis, behavioural insights into how individuals and groups make decision, and management studies of corporate governance to trace the process by which the director primacy system emerged.
The modern corporation has become central to our society. The key feature of the corporation that makes it such an attractive form of human collaboration is its limited liability. This book explores how, by allowing those who form the corporation to limit their downside risk and personal liability to only the amount they invest, there is the opportunity for more risks taken at a lower cost.
As of the end of 2006, small businesses, which were once exempt, now have to comply with Sarbanes-Oxley (SOX). Under Sarbanes-Oxley, they will now be exposed to audits, reviews and will have to make their profits, losses, and compensation packages public. The Complete Guide to Sarbanes-Oxley will answer the following questions: How do companies comply with SOX? How does SOX effect relations within the firm? Should a public company go private to avoid SOX? The Complete Guide to Sarbanes-Oxley is a nontechnical, "plain English" guide for the managers and directors of the 13,000 publicly held corporations now subject to SOX. No business owner should be without it!
November 1, 1950 -- an unseasonably hot afternoon in sleepy Washington, D.C. At 2:00 P.M. at his temporary residence in Blair House, President Harry Truman takes a nap. At 2:20 P.M., two Puerto Rican natives approach from different directions. Oscar Collazo, a respected metal polisher and family man, and Griselio Torresola, an unemployed salesman, don't look dangerous, not in their new suits and hats, not in their calm, purposeful demeanor, not in their slow, unexcited approach. What the three White House policemen and one Secret Service agent guarding the president cannot guess is that under each man's coat is a 9mm German automatic pistol and in each head, a dream of assassin's glory.
In 1969, five players from a powerhouse high school soccer program enroll at Bainbridge University, where football is everything and soccer has only just become a varsity sport. Worse yet, the coach has never played the game, the upcoming schedule is a killer, and the Bainbridge team has only won two games in the past year. Life is about to become very challenging for these freshman used to being winners. Andrew Paxton, a captain of the former high school soccer team, is now sharing a dorm room with his best friend and star teammate, Brian Barrett. But trouble soon brews when Barrett clashes with the coach and members of the football team. Paxton, ever loyal to his best friend, has his own share of problems. He has silently and agonizingly carried a torch since the seventh grade for Barrett's ex-girlfriend, who followed him to Bainbridge hoping to win him back. Meanwhile, the soccer team faces one hurdle after another when Barrett threatens to quit, the team loses one of its stars to injury, and the coach's inexperience becomes painfully obvious. During a time when soccer was still in its infancy in the United States, the players must try to turn around a losing college program and, in the process, come to grips with the realities of friendship and love.
In The Lost Coin, Stephen Rowley shares his lifelong journey—searching for his birth parents, seeking his true identity, and discovering his soul’s calling. We join him when, as a boy growing up in Iowa, he visits Chicago for the first time and is shocked by blatant racial segregation and sprawling urban poverty. We see Stephen as a young athlete sustaining a life-changing injury, then becoming radicalized at the University of Wisconsin, entering the field of education at Stanford, and becoming a visionary school administrator before being fired by a vindictive Silicon Valley school board. He plays golf with a Tibetan lama, and experiences transcendence in a vivid dream, ultimately becoming a psychotherapist in his sixties. We witness the heart-rending scene when he and his wife adopt their own son, and we join him for a poignant reunion with his birth mother, who, it turns out, had desperately hoped he might appear in her life after she’d given him up for adoption. As we accompany Stephen Rowley on this adventurous and reflective journey, we come to understand more deeply the trauma engendered when separating mother from child, and the unspoken restlessness and yearning for connection many adoptees feel. “It is my hope,” he writes, that we all “may discover the unique capacity within us to heal and even thrive, not in spite of the wounds we carry, but because of them.”
Made during time spent in the North East of England, Bainbridge's collages have a North Eastern precedent in Richard Hamilton who, 40 years earlier made his pop collages in Newcastle, and 20 years before Hamilton – Kurt Schwitters who 'merzed' his epheme
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