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Business Law, Public Responsibility, and Ethics Commons

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2001

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Articles 1 - 30 of 35

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

Toward A New Theory Of The Shareholder Role: A Sacred Space In Corporate Transactions, Robert B. Thompson, D. Gordon Smith Dec 2001

Toward A New Theory Of The Shareholder Role: A Sacred Space In Corporate Transactions, Robert B. Thompson, D. Gordon Smith

Faculty Scholarship

Corporate law expresses a profound ambiguity toward the role of shareholders. Courts announce that shareholders are critical to the theory that legitimates the exercise of power - by directors and officers over vast aggregations of property that they do not own. At the same time shareholders have a very difficult time actually making any corporate decisions. In this Article, we strive to define a new role for shareholders by drawing on economic theories of the firm and the structure of corporate law. More particularly we examine the role of shareholders in hostile corporate takeovers, the area where the interests of shareholders ...


Corporate Social Responsibility In Indonesia: Quixotic Dream Or Confident Expectation?, Melody Kemp Dec 2001

Corporate Social Responsibility In Indonesia: Quixotic Dream Or Confident Expectation?, Melody Kemp

Corporate Codes of Conduct

Program paper that discusses the corporate standard of Indonesian companies and the absence of a movement to adopt codes in Indonesian corporate culture. The primary focus is on the limitations of the Corporate Code of Conduct on both MNCs, termed TNCs (transnational corporations), and the local smaller scale manufacturers.


When Hope Unblooms: Chance And Moral Luck In The Fiction Of Thomas Hardy, Jil Larson Nov 2001

When Hope Unblooms: Chance And Moral Luck In The Fiction Of Thomas Hardy, Jil Larson

Center for the Study of Ethics in Society Papers

Paper presented at the Center for the Study of Ethics in Society at Western Michigan University, September 20, 2001.


Lies, Damn Lies, And Misleading Advertising: The Role Of Consumer Surveys In The Wake Of Mead Johnson V. Abbott Labs, Thomas W. Edman Oct 2001

Lies, Damn Lies, And Misleading Advertising: The Role Of Consumer Surveys In The Wake Of Mead Johnson V. Abbott Labs, Thomas W. Edman

William & Mary Law Review

No abstract provided.


Tight Money Policies And Inflation Revisited, Joydeep Bhattacharya, Noritaka Kudoh Oct 2001

Tight Money Policies And Inflation Revisited, Joydeep Bhattacharya, Noritaka Kudoh

Economic Staff Paper Series

This paper reconsiders the link between tight money policies and inflation in the spirit of Sargent and Wallace's (1981) influential paper "Some Unpleasaiit Monetarist Arithmetic". A standard neoclassical model with production, capital, bonds, and returii dominated currency is used to study the long-run effects on inflation ofa tightening ofmonetary policy engineered via a open market sale of bonds. The potential for tight money policies to.be inflationary (unpleasant arithmetic) exists even when the real interest rate is below the growth rate of the economy, and such equilibria can bestable. Incontrast, when moneta^policy isconducted viaa fixed inflation-rate rule, the ...


Why Can't We Wait (To Spend) And The Law Of Unintended Consequences: Potential Negative Impact On Minority Employees From Well-Intentioned Organizational Compensation Practices, James R. Jones Oct 2001

Why Can't We Wait (To Spend) And The Law Of Unintended Consequences: Potential Negative Impact On Minority Employees From Well-Intentioned Organizational Compensation Practices, James R. Jones

Marketing and Management Faculty Proceedings & Presentations

In this time of increasing uncertainty about business viability and stability, many organizations are looking to gain control of their "bottom line" by strengthening the link between organizational outcomes and employee rewards. Long gone are the days of steadily and automatically increasing worker salaries as a hoped-for method of expanding productivity. Indeed, there is a school of thought that suggests that automatic pay increases act as a "demotivator" for many individuals. The more common approach currently is to utilize incentives (i.e., additional compensation/rewards given for performance beyond normal expectations) as a way of enhancing employee work motivation, thereby ...


Center For Professional Ethics, Volume 3, Issue 1, [2001], Case Western Reserve University Oct 2001

Center For Professional Ethics, Volume 3, Issue 1, [2001], Case Western Reserve University

Center for Professional Ethics

Table of Contents:

  • Helping Others to Help Yourself: The Value of Community Service
  • Director's Corner: One Tough Guy by Robert P. Lawry
  • We Do! We Can't? A Discussion of Same Sex Marriage
  • Tom Anderson, Ethics Fellow: Teacher for All Seasons
  • Volume 3, Number 1: News, Notes, and Future Events


Hybrid Organizations And The Alignment Of Interests: The Case Of Fannie Mae And Freddie Mac, Jonathan Koppell Jun 2001

Hybrid Organizations And The Alignment Of Interests: The Case Of Fannie Mae And Freddie Mac, Jonathan Koppell

Jonathan GS Koppell

This article explores the political influence of government-sponsored enterprises (GSEs). Using Congress's overhaul of the regulatory infrastructure for Fannie Mae and Freddie Mac as a case study, the article presents two principal findings: (1) The characteristics that distinguish government-sponsored enterprises from traditional government agencies and private companies endow Fannie Mae and Freddie Mac with unique political resources; and (2) the alignment of interest groups around Fannie Mae and Freddie Mac is subject to strategic manipulation by the GSEs. A triangular model of this alignment is proposed and employed to analyze the legislative outcome. The case has implications for students ...


Alternative Corporate Governance Systems In Japanese Firms: Implications For A Shift To Stockholder-Centered Corporate Governance, Toru Yoshikawa, Phillip H. Phan Jun 2001

Alternative Corporate Governance Systems In Japanese Firms: Implications For A Shift To Stockholder-Centered Corporate Governance, Toru Yoshikawa, Phillip H. Phan

Research Collection Lee Kong Chian School Of Business

In Asia, the recent catastrophic decline in regional stock markets, continuing currency crisis and failures of major financial institutions and industrial corporations have increased domestic and international interest in corporate governance. Nowhere is this greater than in Japan where financial institution reform has catapulted this to the fore. Agency theory and institutional theory, together with comparative case examples, are used in a study to derive some propositions on the dynamics of changing corporate governance systems in Japanese firms. The study argues for the co-existence of stakeholder and shareholder-centered corporate governance systems in Japan. This argument has an important implication for ...


Prevention And Detection Of Financial Statement Fraud, M. Beasley, Joseph Carcello, D. Hermanson Apr 2001

Prevention And Detection Of Financial Statement Fraud, M. Beasley, Joseph Carcello, D. Hermanson

Joseph V. Carcello

No abstract provided.


Financial Reporting Fraud: Could It Happen To You?, Mark Beasley, Joseph Carcello, Dana Hermanson Apr 2001

Financial Reporting Fraud: Could It Happen To You?, Mark Beasley, Joseph Carcello, Dana Hermanson

Joseph V. Carcello

You think it can't happen to you. But so did more than 200 companies, slammed hard by the SEC for reporting fraud. Almost immediately, company stock prices plummeted—followed by shareholder lawsuits, bankruptcy, civil fines, and even jail time for some execs. However, say the authors, those companies could have saved themselves—by focusing on four key areas. Here are some clear “dos” and “don'ts” you can't afford to ignore.


The Search For Middle Ground: Towards A Harmonized Interpretation Of The Private Securities Litigation Reform Act's New Pleading Standard, Ann Morales Olazábal Apr 2001

The Search For Middle Ground: Towards A Harmonized Interpretation Of The Private Securities Litigation Reform Act's New Pleading Standard, Ann Morales Olazábal

Business Law Articles and Papers

Amid much hue and cry, in 1995, Congress passed the Private Securities Litigation Reform Act ("PSLRA," "Reform Act," or "the Act"). The battle over reform had been waged for years. Proponents of the Act promised to put an end to vexatious strike suits and thus reduce the cost of capital formation; critics countered that the proposed law would eliminate all but the most egregious securities fraud suits, thereby shielding corporate wrongdoers and depriving deserving plaintiffs of their day in court. The bill had its checkered history in legislative committee, and, ultimately, the PSLRA was enacted over President Clinton's veto ...


The Ethics Of Making The Body Beautiful: Lessons From Cosmetic Surgery For A Future Of Cosmetic Genetics, Sara Goering Apr 2001

The Ethics Of Making The Body Beautiful: Lessons From Cosmetic Surgery For A Future Of Cosmetic Genetics, Sara Goering

Center for the Study of Ethics in Society Papers

This piece was originally published in the Philosophy and Public Policy Quarterly, Spring 2001 issue (from the Maryland Institute for Philosophy and Public Policy).


Top 10 Audit Deficiencies, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson Apr 2001

Top 10 Audit Deficiencies, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Publications

The article focuses on financial statement fraud based on cases wherein the U.S. Securities and Exchange Commission sanctioned auditors for their association with fraudulent financial statements. All of the cases involved public companies, most of which engaged ill fraudulent financial reporting. Only a few engaged in misappropriation of assets or defalcation. The most common problem, alleged in 90% of the cases, was the auditor's failure to gather sufficient evidence. In some instances, this failure was pervasive throughout the engagement while in other instances the allegations were more specific. For example, many of the cases involved inadequate evidence in ...


Berle And Means Reconsidered At The Century's Turn, William W. Bratton Apr 2001

Berle And Means Reconsidered At The Century's Turn, William W. Bratton

Faculty Scholarship at Penn Law

No abstract provided.


Aggregation, Auctions, And Other Developments In The Selection Of Lead Counsel Under The Pslra, Jill E. Fisch Apr 2001

Aggregation, Auctions, And Other Developments In The Selection Of Lead Counsel Under The Pslra, Jill E. Fisch

Faculty Scholarship at Penn Law

No abstract provided.


The Role Of Boards And Stakeholders In Corporate Governance, Victor C. S. Yeo, Pearlie M. C. Koh Apr 2001

The Role Of Boards And Stakeholders In Corporate Governance, Victor C. S. Yeo, Pearlie M. C. Koh

Research Collection School Of Law

This paper was written specifically for the OECD Third Asian Roundtable on Corporate Governance, held in Singapore in April 2001, the theme of which was "the Role of Boards and Stakeholders in Corporate Governance". It goes without saying that a significant part of corporate governance is about managerial control and accountability. The duties imposed on directors, how Board members are chosen, Board composition, the interaction between members, the roles and responsibilities that Boards undertake, both as a whole and by their individual members, all have significant impact on the efficacy and propriety of the Board in fulfilling its functions. This ...


Local Television Journalism: Developing Ethics Through Discussion, Chris W. Allen, Jeremy Harris Lipschultz, Michael L. Hilt Apr 2001

Local Television Journalism: Developing Ethics Through Discussion, Chris W. Allen, Jeremy Harris Lipschultz, Michael L. Hilt

Communication Faculty Publications

The purpose of this paper is to examine the views of local television news producers about ethical policies and situations they face. A majority of respondents agreed that it was important for a television newsroom to have a code of ethics or discussion of ethics in the newsroom. Most often producers perceived that their newsrooms were involved in discussions of fairness, balance, and objectivity; allocating air-time to opposing interest groups or political candidates; and, providing right of reply to criticism. Producers support a written code of ethics, or occasional discussion of ethics in the television newsroom, but see the competitive ...


Top 10 Audit Deficiencies, Mark Beasley, Joseph Carcello, Dana Hermanson Mar 2001

Top 10 Audit Deficiencies, Mark Beasley, Joseph Carcello, Dana Hermanson

Joseph V. Carcello

No abstract provided.


Morality And God, John Hare Feb 2001

Morality And God, John Hare

Center for the Study of Ethics in Society Papers

Paper presented at the Center for the Study of Ethics in Society at Western Michigan University, January 18,2001 with the title, "Does Morality Need God?"


The Drama Of Dysfunction: Value Conflict In Us Managed Care, Diana D. Mrotek Feb 2001

The Drama Of Dysfunction: Value Conflict In Us Managed Care, Diana D. Mrotek

WCBT Faculty Publications

The transformation of the American health care environment from retrospective fee-for-service to managed care has been both rapid and chaotic. This period of change has been infected by value conflict, evoking unconscious processes in system participants as they have attempted to cope with personally threatening situations. This article attempts to elucidate this process by presenting an account of events and accompanying value conflict as it occurred over time. It also includes a systems analysis of the rapidly changing mosaic of unconscious processes that resulted from the divergent values held by the public and health care professionals, using various organization behavior ...


Ideation And Appropriation: Wittgenstein On Intellectual Property, Julian Friedland Jan 2001

Ideation And Appropriation: Wittgenstein On Intellectual Property, Julian Friedland

Julian Friedland

This paper provides a critique of the contemporary notion of intellectual property based on the consequences of Wittgenstein’s “private language argument”. The reticence commonly felt toward recent applications of patent law, e.g., sports moves, is held to expose erroneous metaphysical assumptions inherent in the spirit of current IP legislation. It is argued that the modern conception of intellectual property as a kind of natural right, stems from the mistaken internalist or Augustinian picture of language that Wittgenstein attempted to diffuse. This view becomes persuasive once it is shown that a complete understanding of the argument against private language ...


The Ethical Wealth Of Nations, Thomas Donaldson Jan 2001

The Ethical Wealth Of Nations, Thomas Donaldson

Legal Studies and Business Ethics Papers

Michael Porter argues that some nations manifest a competitive advantage deriving from key elements of their economic structure. Some nations are thus disposed by structure to possess what Porter calls a "competitive advantage of nations" (Porter, 1990). In this paper I examine the prospect of an ethical advantage of nations, and in particular, of a set of advantages that extend far beyond the simple dimension of trust so often discussed. I consider, further, how such a range of ethical features would be structured, and what the implications of those features would be. Three conclusions are reached: 1. Morality may create ...


Rights Of Inequality: Rawlsian Justice, Equal Opportunity, And The Status Of The Family, Justin Schwartz Jan 2001

Rights Of Inequality: Rawlsian Justice, Equal Opportunity, And The Status Of The Family, Justin Schwartz

Justin Schwartz

Is the family subject to principles of justice? In A Theory of Justice, John Rawls includes the (monogamous) family along with the market and the government as among the "basic institutions of society" to which principles of justice apply. Justice, he famously insists, is primary in politics as truth is in science: the only excuse for tolerating injustice is that no lesser injustice is possible. The point of the present paper is that Rawls doesn't actually mean this. When it comes to the family, and in particular its impact on fair equal opportunity (the first part of the the ...


Shaming In Corporate Law, David A. Skeel Jr. Jan 2001

Shaming In Corporate Law, David A. Skeel Jr.

Faculty Scholarship at Penn Law

No abstract provided.


Minor Distractions: Children, Privacy And E-Commerce, Anita L. Allen Jan 2001

Minor Distractions: Children, Privacy And E-Commerce, Anita L. Allen

Faculty Scholarship at Penn Law

No abstract provided.


On Insider Trading, Markets, And "Negative" Property Rrights In Information, Zohar Goshen, Gideon Parchomovsky Jan 2001

On Insider Trading, Markets, And "Negative" Property Rrights In Information, Zohar Goshen, Gideon Parchomovsky

Faculty Scholarship at Penn Law

No abstract provided.


Farm Animals And Their Welfare In 2000, David Fraser, Joy Mench, Suzanne Millman Jan 2001

Farm Animals And Their Welfare In 2000, David Fraser, Joy Mench, Suzanne Millman

State of the Animals 2001

Farm animals have been a traditional concern of the modern animal protection movement. In the early 1800s, when the movement emerged as a significant sociopolitical force in the United Kingdom, its first priority was protection of farm animals, with particular emphasis on cattle and horses. Subsequently priorities changed, and throughout most of the 1900s, animal protectionism in Europe and the English-speaking world focused more strongly on the use of animals for scientific research and on the rescue of abandoned or ill-treated companion animals. Today, however, with vigorous public debate over animal agriculture and its effects, farm animals are re-emerging as ...


Corporate Governance Reform And The 'New' Corporate Social Responsibility, Douglas M. Branson Jan 2001

Corporate Governance Reform And The 'New' Corporate Social Responsibility, Douglas M. Branson

Articles

The history of corporate governance "reform" begins with Adolf Berle and Gardiner Means's "The Modern Corporation and Private Property," first published in 1932. That book posited the "separation of ownership from control," discussed in the first section of this essay.

The subsequent history of corporate governance reform has been the postulation, by academics and others, of solutions to problems posed by the separation of ownership from control.

One subset of proposed reforms, those of the 1970s, formed the "corporate social responsibility movement." During that era, reformers urged governmental intervention which, as a matter of general corporate law, would expand ...


Qualitative Assessment Of Animal Behaviour As An On-Farm Welfare-Monitoring Tool, Françoise Wemelsfelder, Alistair B. Lawrence Jan 2001

Qualitative Assessment Of Animal Behaviour As An On-Farm Welfare-Monitoring Tool, Françoise Wemelsfelder, Alistair B. Lawrence

Sentience Collection

There is a growing need to monitor the health and welfare of farm animals, and to develop methods which do so efficiently and reliably. A crucial problem with current methods is the integration of separate measurements taken during farm visits into accurate judgements of an animal’s overall welfare state. This paper proposes that the qualitative assessment of animal behaviour may serve as an integrative methodology which could guide the interpretation of other, more detailed welfare measurements. Recent research has demonstrated qualitative behaviour assessment to be reliable and repeatable under controlled experimental conditions. The paper concludes with a discussion of ...