Business Commons^™

Law School News: Throw Out The Old Thinking 9-30-2019, Michael M. Bowden

Life of the Law School (1993- )

No abstract provided.

Backdated Stock Options Ownership Impact On The Corporation, Management, & Shareholders, Karen Cascini, Alan Delfavero

WCBT Faculty Publications

In the post-Sarbanes-Oxley Act (SOx) world, there has been an unprecedented crackdown on fraudulent activity occurring within corporate America. During recent years, many companies have granted stock options to their executives and employees as part of compensation packages. While the issuance of stock options as a component of compensation is considered to be a legal practice, corruption has taken this corporate resource to unlawful heights. Recently, numerous corporations have been in the news for potentially backdating stock options. Accordingly, the purpose of this paper is to distinguish between legal and illegal aspects of backdating stock options, and to examine the …

Slides: Energy By Design: Possible Bmp For Mitigation Planning, Dave Gann

Best Practices for Community and Environmental Protection (October 14)

Presenter: Dave Gann, The Nature Conservancy

15 slides

Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton

All Faculty Scholarship

The Financial Accounting Standards Board (the “FASB”) presents a puzzle: How has this private standard setter managed simultaneously (1) to remain independent, (2) to achieve institutional stability and legitimacy, and (3) to operate in a politicized context in the teeth of op-position from its own constituents? This Article looks to governance design to account for this institutional success. The FASB’s founders made a strategic choice to create a regulatory agency that sought independence rather than political responsiveness. The FASB also set out a coherent theory of accounting, the “Conceptual Framework,” to contain and direct its decisions. The Conceptual Framework contributed …

Who Pays The Auditor Calls The Tune?: Auditing Regulations And Clients' Incentives, Amy Shapiro

Cornell Law Faculty Publications

As we move on from the financial scandals of the early 2000s, the question of how to prevent the next Enron continues to be a pressing one. This Article focuses on the law’s deeply conflicted treatment of auditors of public corporations. Though the audit firm is charged with serving as the public’s watchdog in insuring good financial disclosure, the auditor’s actual client is the audited corporation itself, whose interests concerning disclosure are not necessarily aligned with those of investors. Because the Sarbanes-Oxley Act of 2002 left this structure in place, further reform is needed. One promising suggestion is to give …

Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton

All Faculty Scholarship

The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly ·when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect. the US reporting system holds out no actor plausibly positioned …

The Case For Repealing The Corporate Alternative Minimum Tax, Terrence R. Chorvat, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Operating Under New Laws Pertaining To Mineral Development On Indian Lands, B. Reid Haltom

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

89 pages.

Contains 8 attachments:

1) Indian Mineral Development Act of 1982, Public Law 97-382 - Dec. 22, 1982.

2) Proposed BIA Regulations, 25 C.F.R. 225 and 211, Federal Register, Vol. 48, No. 134, Tuesday, July 12, 1983.

3) Billings Area Office Procedures.

4) Flow Chart.

5) Oil and Gas Exploration Joint Venture Agreement.

6) Federal Oil and Gas Royalty Management Act of 1982, Public Law 97-451 [H.R. 5121], January 12, 1983.

7) 30 C.F.R., Part 210, 212, 217, 218, 219, 228, 229, 241, 243, Federal Register, Vol. 49, No. 185, Friday, September 21, 1984.

8) 43 C.F.R., Part 3160, …

Agenda: Public Lands Mineral Leasing: Issues And Directions, University Of Colorado Boulder. Natural Resources Law Center

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

University of Colorado School of Law professor Lawrence J. MacDonnell served as the conference organizer and as a member of the faculty.

Federal leasing programs, especially for oil and gas and coal, have been undergoing important changes in recent years. This conference will provide an overview and an update for those involved in public lands mineral development. Significant new issues also will be addressed.