Business Commons^™

Why Does Corporate Governance Matter? Evidence From Seasoned Bond Offerings, Fang Wang

Dissertations and Theses Collection (Open Access)

To examine the importance of corporate governance, I look at how management and investors behave in the event of seasoned bond offerings, controlling for the corporate governance structure of issuing firms. I find that companies with the weakest governance structure aggressively manipulate their earnings upwards during the two years prior to the debt issuances. And when the bond offerings are announced to the market, these same firms experienced positive abnormal returns over a three day event period, indicating that investors of poorly governed firms value a debt financing for the alleged decrease in agency cost.

The Impact Of Employees' Perception Of Corporate Social Responsibility On Job Attitudes And Behaviors: A Study In China, Dan Zheng

Dissertations and Theses Collection (Open Access)

Corporate social responsibility (CSR) is regarded as voluntary bahaviors that contribute to the soceity welfare. Based on the concept of sustainable development, corporations should not only stress on their economic and business outcomes, but also pay attention to their effect on the society and environment. Corporations are expected to engage in the improvement of their employees' quality of life, as well as the well-being of employees' families, local communities, and the overall society. With the acceleration of global integration, CSR has become a main concern by the public, and is considered as an essential part of the business strategy. It …

Country Natural Beef: A Maturing Co-Op At The Crossroads, Madeleine E. Pullman, Victoria Villa-Lobos, Zhaohui Wu

Business Faculty Publications and Presentations

A Business Base Study of a Group of Northwest Cattle Ranchers that Formed a Co-op to Market Natural Beef Products, in the Face of economic uncertainty and the rise of corporate farms and ranches. Provides an overview of the cattle ranching industry, the history of the co-op, its economic outlook, and future challenges.

Clean, Green, And Not So Mean: Can Business Save The World?, Andy Spackman, Celia Ross, Christy Donaldson, Louise Feldman, Patrick Griffis, Elizabeth Stephan, Laurie Bridges, Baseema Krkoska, Tony Lin, Mark Siciliano

Library Faculty Publications

No matter how you define it, corporate social responsibility (CSR) is a hot topic. From community investing to business ethics to environmental sustainability and beyond, proponents of CSR view the business landscape through a lens that focuses less on profitability and more on the greater good.

“Doing well by doing good” is the business world’s new mantra. Concepts of CSR, green business, social entrepreneurship, and peace through commerce have become a focus of research and are inspiring the next generation of businesspeople. The 2010 BRASS Program gave attendees an expert’s view of certain niches within the broader realm of ethical …

The Overstated Promise Of Corporate Governance, Jill E. Fisch

All Faculty Scholarship

Review of Jonathan Macey, Corporate Governance: Promises Kept, Promises Broken (Princeton, 2008)

Lyondell: A Note Of Approbation, William W. Bratton

All Faculty Scholarship

No abstract provided.

Tracking Berle's Footsteps: The Trail Of The Modern Corporation's Law Chapter, William W. Bratton, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

A Comprehensive Theory Of Deal Structure: Understanding How Transactional Structure Creates Value, Michael S. Knoll, Daniel M. G. Raff

All Faculty Scholarship

No abstract provided.

The Power Of Proxy Advisors: Myth Or Reality?, Stephen Choi, Jill E. Fisch, Marcel Kahan

All Faculty Scholarship

Recent regulatory changes increasing shareholder voting authority have focused attention on the role of proxy advisors. In particular, greater shareholder empowerment raises the question of how much proxy advisors influence voting outcomes.

This Article analyzes the significance of voting recommendations issued by four proxy advisory firms in connection with uncontested director elections. We find, consistent with press reports, that Institutional Shareholder Services (ISS) is the most powerful proxy advisor and that, of the others, only Glass, Lewis & Co. seems to have a meaningful impact on shareholder voting. This Article also attempts to measure the impact of voting recommendations on …

Heedless Globalism: The Sec's Roadmap To Accounting Convergence, William W. Bratton

All Faculty Scholarship

The Securities Exchange Commission (SEC) has introduced a "Roadmap" that describes a process leading to mandatory use of International Financial Reporting Standards (IFRS) by domestic issuers by 2014. The SEC justifies this initiative on the grounds that global standardization yields cost savings and an ultimate gain in comparability, facilitating the search for global opportunities by u.s. investors and making u.s. capital markets more attractive to foreign issuers. This Article shows that the offered justification is inadequate. The SEC frames the matter as a choice between two institutional frameworks for standard setting, holding out high quality sets of standards, asking which …

Corporate Social Responsibility And The Legal Profession, Eugene K. B. Tan

Research Collection Yong Pung How School Of Law

No abstract provided.

Stakeholders, Robert Phillips

Robert Phillips

No abstract provided.

Crisis Opportunism: Bail Outs And E-Scads In The Gfc, Judy Johnston, Alexander Kouzmin, Kym Thorne, Stephen Kelly

Adjunct Professor Stephen J Kelly

As a response to the “junk-debt”- inspired, global, economic crisis, governments, with supra-national organizational approval, have appropriated billions of taxpayers’ dollars for bail-outs, have set-up special funds and under-written depositors’ savings in the desperate hope of alleviating the threat of rapid, economic decline and systemic destruction of value. Whether these governments have a democratic mandate for such unprecedented action is debatable. More importantly, though, is whether such decisions amount to good re-regulatory policy.

First, it is known that some of the bail-out money to large corporations has been squandered by oligarchic recipients and appropriated by them in their own interests. …

Legal Guide For Small Business, Robert Sprague

Robert Sprague

Overview of legal issues associated with starting, managing, and ending a small business.

The Scandal Beneath The Crisis: Getting A View From A Cultural-Moral Mental Model, Kevin Jackson

kjackson@fordham.edu

No abstract provided.

Juridische Kaders In De Sociale Economie: Een Rechtseconomische Doorlichting, Astrid Coates, Wim Van Opstal

Wim Van Opstal

De sociale economie hanteert in ons land hoofdzakelijk het vzw-statuut en bestaat traditioneel ook uit (erkende) coöperatieve vennootschappen. In 1995 werd hier ook de vennootschap met sociaal oogmerk aan toegevoegd. In dit artikel bespreken we enkele randvoorwaarden voor een geslaagd ontwerp en een succesvolle implementatie van juridische kaders voor de sociale economie. Vervolgens bespreken we bondig de essentiële kenmerken van deze drie juridische kaders. We besluiten met een vergelijkende analyse en belichten daarbij de belangrijkste relatieve troeven en zwaktes ten opzichte van elkaar.

Mental Models That Impede Business’ Role In Global Poverty Alleviation, Dennis Moberg, Laura Hartman, Patricia Werhane, Scott Kelley

Scott Kelley

Six defective mental models that obstruct multinational enterprises from efforts at global poverty alleviation are identified. These include mindsets that define poverty in terms of individual daily earnings, that contend that global poverty is unsolvable, and frame global poverty as a human rights issue. In addition, there are the biased mental models that contend that the poor are incapable, that making money from the poor is unseemly, and that partnerships between multinational enterprises and public organizations are unlikely. It is claimed that such mental models challenge business leaders to be morally imaginative, and specific examples are cited that dispute each …

Building Social Capital Through Corporate Social Investment, David Cooke

David Cooke

Corporate support for the not-for-profit sector has been underestimated by many companies as a highly effective strategy to develop brand awareness, attract and retain top staff and build social capital. Some top australian companies have understood this and have well developed partnerships with the not-for-profit sector leading to mutually beneficial outcomes and positive societal impacts. In-depth interviews and case studies support this.