Enron and World Finance A Case Study in Ethics Edited by Paul H. Dembinski, Carole Lager, Andrew Cornford and Jean-Michel Bonvin Enron and World Finance Also by Observatoire de la Finance From Bretton Woods to Basel Finance & the Common Good/Bien Commun, no. 21, Spring 2005 Ethics of Taxation and Banking Secrecy Finance & the Common Good/Bien Commun, no. 12, Autumn 2002 Will the Euro Shape Europe? Finance & the Common Good/Bien Commun, no. 9, Winter 2001–2 Dommen, E. (ed.) Debt
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Abstract Since Sam Walton’s discount retailer first opened its doors in 1962, Wal-Mart has grown to be the largest corporation in the world. Wal-Mart is revolutionizing the way the retail items are passed from producer to end-user by drastically cutting costs at every opportunity and demanding the same of their suppliers. These savings passed onto the consumers has not come without a price! Where some see a discount or a job opportunity, others see an empire that pulls the rug out of existing
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Business ethics can be defined as the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Business ethics are often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance. Business ethics are implemented in order to ensure that a certain required level
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Unethical Behavior and its Costs 4 August 2013 Unethical Behavior and its Cost 1 The Fall of Dennis Kozlowski Many leaders work hard and strive diligently to lead companies to success and wealth in an ethical manner. In doing so, the reputation of the company is enhanced as are the benefits to the shareholders and the public. That notwithstanding, some leaders have been identified with exhibiting poor judgement and gross unethical behavior (Stephens, Vance, Pettegrew, 2012)
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This essay will outline events that lead to the fall of Nortel network, a very successful Canadian maker of telecoms equipment in the late 1990’s. Nortel was huge and ranked as one of the largest firms of the world. This success did not last long as acquisitions of fraud, misalignment of funds among other unethical behavior were occurring. Small investors and stakeholders incurred the biggest loss. Nortel Network, a Canadian technology company was considered a fast-moving giant. The company was
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1408795 Critically evaluate the claim that the corporate governance structures introduced in the post-Cadbury era have been beneficial to shareholders? Word count: 2750 Hand in date: 7th November 2014 Corporate Governance Introduction: Over the last few decades there has been in some cases a vast amount of major changes have taken place in capital markets over recent years. The board of directors are in charge when it comes to the governance of their company. And with this is has reinforced
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Corporate Governance What is Corporate Governance? Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include labor(employees), customers
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Means (1932, p. 139) who observed that top corporate executives, “while in office, have almost complete discretion in management.” Since Jensen and Meckling (1976), the problem of managerial power and discretion has been analyzed in modern finance as an “agency problem.” Managers may use their discretion to benefit themselves personally in a variety y Lucian Arye Bebchuk is the William J. Friedman Professor of Law, Economics and Finance, Harvard Law School, and Research Associate, National Bureau
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Subject title = Corporate Governance Executive Summary Most successful organisations adhere to corporate governance principles, and as their environments change, so should the system in order to adapt and improve. This paper reviews the corporate governance aspects of Scouts Victoria. As an organisation with a hybrid of volunteer and paid staff, Scouts Victoria provides an interesting insight of how corporate governance methodologies can be adopted. The organisation is well advanced in
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to disclose the Corporate Social Responsibility Report (CSRR) in order to have a better governance and corporate transparency; 2. The issue concerning environment has been taken into account; and 3. Child-friendly Corporate Social Responsibility shall be considered. Through our observation and analysis, it can be said that the recent emerging trend in Malaysia, is the need of disclosure of Corporate Social Responsibility Report in order to have a better governance and corporate transparency. These
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