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Full-Text Articles in Business Law, Public Responsibility, and Ethics

A Framework For Good Ownership And Good Governance (1999), Marcy Murninghan Mar 2018

A Framework For Good Ownership And Good Governance (1999), Marcy Murninghan

New England Journal of Public Policy

This article encapsulates a more extensive analysis that was commissioned by The Boston Foundation’s board of trustees in December 1998 to investigate its investment practices and identify ways in which its asset management decisions might be brought into fuller alignment with its charitable purpose—without conceding earnings or undermining its philanthropic fiduciary responsibility. The undertaking was spurred by the leadership of Robert A. Glassman, co-founder and co-chair of Wainwright Bank and a trustee of The Boston Foundation (TBF) since 1985, who took the reins from David Rockefeller Jr. in 1995 as chair of TBF’s investment committee. The research ...


Trusting Harvard: The Cost Of Unprincipled Investing (2014), Marcy Murninghan, Robert A.G. Monks Mar 2018

Trusting Harvard: The Cost Of Unprincipled Investing (2014), Marcy Murninghan, Robert A.G. Monks

New England Journal of Public Policy

This article provides a framework for answering two questions: How can Harvard fulfill its fiduciary obligation as an investor in ways that advance its beliefs, values, and commitments? How can Harvard take the lead in creating a curriculum for students, professionals, and the general public about the civic moral obligations of wealth? While aimed at Harvard, the issues covered are relevant to other universities and tax-exempt institutional investors, because they have a special duty to advance the public interest. Commissioned and co-authored by the noted corporate governance and responsible ownership guru Robert A. G. Monks, it calls on Harvard to ...