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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Common Sense And Civic Virtue: Institutional Investors, Responsible Ownership, And The Democratic Ideal, Marcy Murninghan
Common Sense And Civic Virtue: Institutional Investors, Responsible Ownership, And The Democratic Ideal, Marcy Murninghan
New England Journal of Public Policy
On matters of governance, the people’s good is the highest law, as Cicero said two millennia ago. Unfortunately, these days personal greed has trumped the people’s good, enflaming the current governance crisis affecting our public, nonprofit, and private spheres. The spate of corporate governance scandals over the past several years jeopardizes equity investments, harms beneficiaries, and weakens global capital markets. The remedy is not just more laws and regulation but revitalization of the system of corporate checks and balances that already exists. To get better corporate governance, corporate shareowners, especially institutional investors, need to assert their rights and responsibilities more …
Grinding Decline In Springfield: Is The Finance Control Board The Answer?, Robert Forrant
Grinding Decline In Springfield: Is The Finance Control Board The Answer?, Robert Forrant
New England Journal of Public Policy
Springfield, Massachusetts, the Bay State’s third largest city, suffered staggering manufacturing job loss over the last thirty years of the twentieth century. In 2004, the financial impact of job loss, coupled with dubious fiscal management, plunged the city into near bankruptcy. In response, state government passed legislation appointing a Finance Control Board to manage city business. Wage freezes for City workers were continued and cuts in numerous essential services occurred to deal with the debt. But the question remains, can a Control Board approach grow a large stock of well-paying jobs — large enough to grow the city’s and the …