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Business Law, Public Responsibility, and Ethics Commons

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2008

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Articles 1 - 30 of 111

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

The Dystopian Potential Of Corporate Law, D. Gordon Smith Dec 2008

The Dystopian Potential Of Corporate Law, D. Gordon Smith

Faculty Scholarship

The community of corporate law scholars in the United States is fragmented. One group, heavily influenced by economic analysis of corporations, is exploring the merits of increasing shareholder power vis-a-vis directors. Another group, animated by concern for social justice, is challenging the traditional, shareholder-centric view of corporate law, arguing instead for a model of stakeholder governance. The current disagreement within corporate law is as fundamental as in any area of law, and the debate is more heated than at any time since the New Deal. This paper is part of a debate on the audacious question, Can Corporate Law Save ...


The Moral Justification For Journalism, Sandra L. Borden Dec 2008

The Moral Justification For Journalism, Sandra L. Borden

Center for the Study of Ethics in Society Papers

Papers presented for the Center for the Study of Ethics in Society Western Michigan University


Toward A Unified Theory Of Access To Local Telephone Systems, Daniel F. Spulber, Christopher S. Yoo Dec 2008

Toward A Unified Theory Of Access To Local Telephone Systems, Daniel F. Spulber, Christopher S. Yoo

Faculty Scholarship at Penn Law

One of the most distinctive developments in telecommunications policy over the past few decades has been the increasingly broad array of access requirements regulatory authorities have imposed on local telephone providers. In so doing, policymakers did not fully consider whether the justifications for regulating telecommunications remained valid. They also allowed each access regime to be governed by its own pricing methodology and set access prices in a way that treated each network component as if it existed in isolation. The result was a regulatory regime that was internally inconsistent, vulnerable to regulatory arbitrage, and unable to capture the interactions among ...


Wherefore Art Thou Guidelines? An Empirical Study Of White-Collar Criminal Sentencing And How The Gall Decision Effectively Eliminated The Sentencing Guidelines, S. Patrick Morin Dec 2008

Wherefore Art Thou Guidelines? An Empirical Study Of White-Collar Criminal Sentencing And How The Gall Decision Effectively Eliminated The Sentencing Guidelines, S. Patrick Morin

The University of New Hampshire Law Review

[Excerpt] “Until the passage of the U.S. Federal Sentencing Guidelines in 1984, federal judges had relatively wide discretion in sentencing federal offenders up to the statutory maximum. This judicial discretion led to a disparity in the sentences of similarly situated offenders, particularly in white-collar cases. The Guidelines attempted to eliminate this disparity by establishing maximum and minimum sentences for certain offenses based on the characteristics of the crime. An important feature of the Guidelines system was its mandatory nature, which decreased and structured the judiciary‘s discretion within bounds set by Congress.

The mandatory application of the Guidelines resulted ...


Quality Control Defects Revealed In Smaller Firms' Pcaob Inspection Reports, Dana R. Hermanson, Richard W. Houston Dec 2008

Quality Control Defects Revealed In Smaller Firms' Pcaob Inspection Reports, Dana R. Hermanson, Richard W. Houston

Faculty Publications

The article reports the study of Public Company Accounting Oversight Board (PCAOB) on the quality control (QC) defects of small audit firms. Topics including the accounting lapses of small auditing firms, tips on complying QC standards and importance of inspection on the auditing industry are discussed. Study reveals that smaller firms have deficient processes in conducting audit quality. The article notes that PCAOB is expected to increase campaign in assisting audit firms while small audit firms are encouraged to address their QC deficiencies.


Managerial Ownership And Firms' Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo Dec 2008

Managerial Ownership And Firms' Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo

Research Collection School Of Accountancy

We examine the relation between managerial stock ownership and the firm’s information environment. We focus on three dimensions of the information environment: total, public, and private information precision (Barron, Kim, Lim and Stevens 1998). Our results suggest that firms’ total and public information precision are positively related to managerial ownership. In contrast, there is no clear pattern in private information precision across different levels of managerial ownership. We also observe that managerial ownership has a greater impact on the firm’s public information environment after the implementation of Regulation Fair Disclosure, suggesting that the regulation was effective in improving ...


Managerial Ownership, Corporate Monitoring And Audit Pricing, Soongsoo Han, Julia Higgs, Tony Kang Dec 2008

Managerial Ownership, Corporate Monitoring And Audit Pricing, Soongsoo Han, Julia Higgs, Tony Kang

Research Collection School Of Accountancy

We study whether managerial ownership and corporate monitoring (board quality and analyst coverage) relate to audit pricing. Managerial ownership has been identified as a fraud risk factor under SAS 99. However, the role of ownership is not clear. Under an alignment view, high levels of stock ownership align management with shareholders. Under an entrenchment view, high levels of ownership may motivate management to be self interested. Corporate monitoring, as measured by analyst coverage and overall board quality (Gomper’s index), are associated with information quality. Audit pricing will be affected to the extent that auditors perceive monitoring as being relevant ...


Technical Analysis: The Interface Of Rational And Irrational Decision Making, William Marty Martin Nov 2008

Technical Analysis: The Interface Of Rational And Irrational Decision Making, William Marty Martin

William Marty Martin

No abstract provided.


Pcaob Inspection Process: An Objective, Comprehensive Assessment Is Justified, Bernard H. Newman, Mary Ellen Oliverio Nov 2008

Pcaob Inspection Process: An Objective, Comprehensive Assessment Is Justified, Bernard H. Newman, Mary Ellen Oliverio

Faculty Working Papers

The Public Company Accounting Oversight Board (PCAOB) is charged with performing inspections of registered accounting firms. (Sarbanes-Oxley Act of 2002, Section 104) Basically, inspections are to “assess the degree of compliance. . . with the Act, the rules of the Board, the rules of the Commission, or professional standards. The inspection process has many aspects. Matters that have been discussed include timeliness of reports, extent of public disclosure of findings, qualifications of inspections, and the nature of the inspection process. Only the last identified matter, the nature of the inspection process, is the subject of this paper. After a review of the ...


Community Partnerships: Creating Tangible Benefits From Community Engagement, David Cooke Dr Nov 2008

Community Partnerships: Creating Tangible Benefits From Community Engagement, David Cooke Dr

David Cooke

A deeper understanding of the complimentary skills sets of corporations and the not-for-profit sector reveals that they have much to offer each other and that returns on investmnent for corporations and a greater flow of funds to charitable organisations can be achieved through the study of effective partnerships.


Reconceiving Labour Law: The Labour Market Regulation Project, Andrew D. Frazer Nov 2008

Reconceiving Labour Law: The Labour Market Regulation Project, Andrew D. Frazer

Faculty of Law - Papers (Archive)

This paper reviews the recent work by Australian labour lawyers that has embraced the ‘new regulation’ and in particular the idea of law as regulation. This approach has recast the academic study of labour law as being concerned with regulation of the labour market. While much of this work has concentrated on expanding the field of labour law to include many areas of law affecting the labour market (beyond the employer-employee relationship), the work has also developed the view of law as a mechanism of state regulation. The paper examines how the ‘regulatory turn’ in Australian labour law has affected ...


Alleviating Global Poverty Through Profitable Partnerships: Moral Imagination & Economic Well-Being, Laura Hartman, P. Werhane, D. Moberg, S. Kelley Oct 2008

Alleviating Global Poverty Through Profitable Partnerships: Moral Imagination & Economic Well-Being, Laura Hartman, P. Werhane, D. Moberg, S. Kelley

Laura Hartman

While at least one out of six in the global human population cannot meet the basic demands of survival and they have little ability to buy goods and services, this situation also presents potential new markets for multinational enterprises seeking long-term sustainability. If economic growth is a continuing and positive goal for the planet and for global companies, then, as markets in developed economies become saturated, these new markets provide fresh opportunities to satisfy this objective.


The Enduring Ambivalence Of Corporate Law, Christopher M. Bruner Oct 2008

The Enduring Ambivalence Of Corporate Law, Christopher M. Bruner

Scholarly Works

Prevailing theories of corporate law tend to rely heavily on strong claims regarding the corporate governance primacy and legitimacy of either the board or the shareholders, as the case may be. In this article I challenge the descriptive power of these theories as applied to widely held public corporations and advance an alternative, arguing that corporate law is, and will remain, deeply ambivalent - both doctrinally and morally - with respect to three fundamental and related issues: the locus of ultimate corporate governance authority, the intended beneficiaries of corporate production, and the relationship between corporate law and theachievement of the social good ...


States, Markets, And Gatekeepers: Public-Private Regulatory Regimes In An Era Of Economic Globalization, Christopher M. Bruner Oct 2008

States, Markets, And Gatekeepers: Public-Private Regulatory Regimes In An Era Of Economic Globalization, Christopher M. Bruner

Scholarly Works

This paper illuminates the spectrum of international economic regimes through discussion of an under-theorized regulatory structure in which traditional distinctions between state and market, public and private power, hard and soft law, and international and domestic policy realms, essentially collapse - the public-private gatekeeper.

Specifically, I examine striking similarities between global bond markets and e-commerce markets through comparison of entities regulating admission to them - the dominant credit rating agencies (Standard & Poor's and Moody's), and the Internet Corporation for Assigned Names and Numbers (ICANN). Following anexamination of the development of these markets and the global regulatory power exercised by these ...


Quantifying Audit Quality: A Proposal Inspired By Recent Initiatives, Mary Ellen Oliverio, Bernard H. Newman Sep 2008

Quantifying Audit Quality: A Proposal Inspired By Recent Initiatives, Mary Ellen Oliverio, Bernard H. Newman

Faculty Working Papers

Audit quality has gained intensive attention since the cascade of audit failures in the concluding years of the last century and the first few years of our new century. The Sarbanes-Oxley Act of 2002 [hereafter identified as the Act] introduced a new oversight strategy to enhance the quality of audits. To assure the performance of quality audits, the PCAOB was charged with responsibility for inspecting registered public accounting firms that perform financial audits for publicly-owned companies in the United States. To date, however, this process has not resulted in measurement of audit quality.

Since 2002, there have been two additional ...


Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio Sep 2008

Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio

Faculty Working Papers

The Public Company Accounting Oversight Board (PCAOB) has responsibility for monitoring public accounting firms that provide audits for publicly owned companies. Among the duties assigned to the PCAOB was “conducting inspections of registered public accounting firms.” A strategy for such inspections was developed that includes reporting deficiencies judged to be significant for supporting conclusions made.

This paper presents a content analysis of deficiencies disclosed in the nine inspections (during three years) of three accounting firms, along with the largest four firms, that are inspected each year. Also discussed are the general implications for auditing teaching in colleges/universities and in ...


"Of All Professions Begging Is The Best" - Some Problems In The Study Of Professions, Michael Davis Aug 2008

"Of All Professions Begging Is The Best" - Some Problems In The Study Of Professions, Michael Davis

Center for the Study of Ethics in Society Papers

Michael Davis' original paper was presented to the Center of the Study of Ethics in Society Western Michigan University on October 4, 2007.


Of All Professions, Prostitution Is The Oldest (Except Possibly For Teaching), Joseph Ellin Aug 2008

Of All Professions, Prostitution Is The Oldest (Except Possibly For Teaching), Joseph Ellin

Center for the Study of Ethics in Society Papers

Response by Joseph Ellin to a paper by Michael Davis Professions "Of All Professions, Begging is the Best"


Professions "Of All Professions, Begging Is The Best" A Paper By Michael Davis. Response By Joseph Ellin. Professor Davis' Reply, Center For The Study Of Ethics In Society Aug 2008

Professions "Of All Professions, Begging Is The Best" A Paper By Michael Davis. Response By Joseph Ellin. Professor Davis' Reply, Center For The Study Of Ethics In Society

Center for the Study of Ethics in Society Papers

Michael Davis' original paper was presented to the Center of the Study of Ethics in Society Western Michigan University on October 4, 2007.


Managerial Ownership And Firms’ Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo Aug 2008

Managerial Ownership And Firms’ Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo

Research Collection School Of Accountancy

We examine the relation between managerial stock ownership and the firm’s information environment. We focus on three dimensions of the information environment: total, public, and private information precision (Barron, Kim, Lim and Stevens 1998). Our results suggest that firms’ total and public information precision are positively related to managerial ownership. In contrast, there is no clear pattern in private information precision across different levels of managerial ownership. We also observe that managerial ownership has a greater impact on the firm’s public information environment after the implementation of Regulation Fair Disclosure, suggesting that the regulation was effective in improving ...


Reply To Joseph Ellin's Of All Professions, Prostitution Is The Oldest (Except Possibly For Teaching), Michael Davis Aug 2008

Reply To Joseph Ellin's Of All Professions, Prostitution Is The Oldest (Except Possibly For Teaching), Michael Davis

Center for the Study of Ethics in Society Papers

No abstract provided.


Unilateral Refusals To Deal, Vertical Integration, And The Essential Facility Doctrine, Herbert J. Hovenkamp Jul 2008

Unilateral Refusals To Deal, Vertical Integration, And The Essential Facility Doctrine, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Where it applies, the essential facility doctrine requires a monopolist to share its "essential facility." Since the only qualifying exclusionary practice is the refusal to share the facility itself, the doctrine comes about as close as antitrust ever does to condemning "no fault" monopolization. There is no independent justification for an essential facility doctrine separate and apart from general Section 2 doctrine governing the vertically integrated monopolist's refusal to deal. In its Trinko decision the Supreme Court placed that doctrine about where it should be. The Court did not categorically reject all unilateral refusal to deal claims, but it ...


Cross-Country Analysis Of Auditor Specialization Premium: Effect Of Legal, Extra-Legal And Political Environments, Sirinidhi Bin, M. Hossain, Chee Yeow Lim Jul 2008

Cross-Country Analysis Of Auditor Specialization Premium: Effect Of Legal, Extra-Legal And Political Environments, Sirinidhi Bin, M. Hossain, Chee Yeow Lim

Research Collection School Of Accountancy

Previous literature has provided mixed evidence of a premium in audit fee for industry-specialist auditors in US and other developed countries. In this cross-country study spanning twelve non-US countries, we provide evidence of such a premium in the international context, implying that specialist auditors provide a higher level of investor assurance than non-specialists. Further, we show that the average audit fee in countries with effective legal, extra-legal and political institutions is higher but the specialization premium is lower than in other countries. We interpret this finding as evidence that while effective institutions increase the demand for average level of audit ...


Islamic Finance Unit Takes Bank Beyond Michigan Roots, Karen Hunt Ahmed Jun 2008

Islamic Finance Unit Takes Bank Beyond Michigan Roots, Karen Hunt Ahmed

Karen Hunt Ahmed

No abstract provided.


International Strategic Alliance, Mohd Arif Jun 2008

International Strategic Alliance, Mohd Arif

Mohd Arif

A Strategic Alliance is a relationship between firms to creat more value than they can on their own


Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García Jun 2008

Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Tercer Congreso Nacional de Organismos Públicos Autónomos

"Autonomía, Reforma Legislativa y Gasto Público"


The Association Between Excess Audit Fees And Audit Quality: A Us-Uk Comparison, Soongsoo Han, Tony Kang, Yong Keun Yoo Jun 2008

The Association Between Excess Audit Fees And Audit Quality: A Us-Uk Comparison, Soongsoo Han, Tony Kang, Yong Keun Yoo

Research Collection School Of Accountancy

Prior studies that examine the association between excess audit fees and audit quality (measured by discretionary accruals) using US data fail to document a significant association. However, there is no convincing explanation for this result to date. In this study, we test a cancellation hypothesis, which suggests that the non-association might be due to the cancellation effect between the risk-effort effect and the bonding effect that excess fees capture. To the extent that excess fees capture the compensation for effort the auditor puts in for a risky client, which is not captured in the existing audit fee models (the risk-effort ...


The Protection Of Minority Shareholders In Brazil, Bruno Meyerhof Salama May 2008

The Protection Of Minority Shareholders In Brazil, Bruno Meyerhof Salama

Bruno Meyerhof Salama

No abstract provided.


The Globally Responsible Leader, Bertha-Lucia Fries May 2008

The Globally Responsible Leader, Bertha-Lucia Fries

Critical and Creative Thinking Capstones Collection

In recent years there has been a dramatic expansion of what I call Global Responsibility (GR)-a new dynamic force for change in business, government, and other organizations. GR integrates into one inclusive model the emergent ("fragmented") models generally known as: Business Ethics, Corporate Citizenship, Corporate Social Responsibility (CSR), Eco-Efficiency, Ethics and Development, Sustainable Development, The Best Company to Work For, and others. This unprecedented change, rather than spearheaded internally by management, is pioneered externally by the stakeholders of organizations-including consumers, investors, media, activists and concerned citizens. They are progressively putting more pressure on organizational leaders to change both how ...


Patent Deception In Standard Setting: The Case For Antitrust Policy, Herbert J. Hovenkamp May 2008

Patent Deception In Standard Setting: The Case For Antitrust Policy, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Many patent applications are rejected upon initial submission, but they are almost never rejected with absolute finality. Further, subsequent to filing its original application a patent applicant might wish to write an application with broader or somewhat different claims, or perhaps add claims that were not made in the original application. Or it may wish to rewrite claims that had been rejected in the original application. A patent "continuation" is an application for additional claims made on a patent that was previously applied for.

Under generally accepted patent practices in the United States, when a subsequent continuation or divisional application ...