Business Law, Public Responsibility, and Ethics Commons^™

What Makes For Effective Labor Representation On Pension Boards?, Johanna Weststar, Anil Verma

Management and Organizational Studies Publications

This article examines the efficacy of labor representation on pension boards. Using existing literature and interviews with labor trustees, this article develops a model where a more formal approach to recruitment and selection, skill acquisition, and accountability is hypothesized to aid labor trustees in achieving effective integration and representation on pension boards. Data indicate that labor trustees are placed in a challenging environment with insufficient support from their union, other trustees, or the board. These findings have important implications for the selection, training, and integration of labor trustees and the success of a labor agenda on pension issues.

North American Business Strategies Towards Climate Change, Charles Jones, David Levy

Management and Marketing Faculty Publication Series

Business has become a key part of the fabric of global environmental governance, considered here as the network which orders and regulates economic activity and its impacts. We argue that businesses generally are willing to undertake limited measures consistent with a fragmented and weak policy regime. Further, the actions of businesses act to create, shape and preserve that compromised regime. We examine three types of indicators of business responses in North America: ratings by external organizations, commitments regarding emissions, and joint political action. We find business response to be highly ambiguous, with energetic efforts yielding few results.

Auditing Management Assertions: The Impact Of Sas No. 106, Deborah S. Archambeault

Accounting Faculty Publications

The Auditing Standards Board (ASB) of the AICPA recently issued eight new statements on auditing standards (SASs), which are effective for audits of financial statement periods beginning on or after Dec. 15, 2006. Included within this new set of audit standards is SAS No. 106: Audit Evidence, which provides guidance on the use of management assertions in obtaining audit evidence.

The Association Between Audit Fees And Auditors' Opinions On Internal Control Weakness Under Section 404 Of The Sox, Jong-Hag Choi, Jeong-Bon Kim, Soo Young Kwon, Yoonseok Zang

Research Collection School Of Accountancy

The Section 404 of Sarbanes-Oxley Act (SOX) requires top management toestablish, maintain, and regularly evaluate the effectiveness of the internal controlover financial reporting (ICOFR), and obtain an auditor’s attestation. In this paper, weidentify 232 firms that received “Ineffective” audit opinion on the effectiveness ofICOFR due to one or more material weakness in internal control (WIC). We examinethe association between audit fees and the WIC for pre- and post-SOX period. Wefind that highly levered clients with the WIC paid greater audit fees even in the preSOXperiod and continuously paid the high fees in post-SOX period, whereas theloss-making clients with WIC paid …

Including Corporate Social Responsibility, Environmental Sustainaibility, And Ethics In Calibrating Mba Job Preferences, David B. Montgomery, Catherine A. Ramus

Research Collection Lee Kong Chian School Of Business

It has long been understood by organizations and academics that the people make the place (Schneider, 1987). A quality workforce is an important source of competitive advantage, and organizational and financial success for firms (Capelli, 2000; Chapman, Uggerslev, Carroll, Piasentin, & Jones, 2005; Huselid, 1995; Pfeffer, 1994, 1998; Teece, 1998). Attracting talent is difficult for business organizations, and may become increasingly so in the years to come, as demographic and economic factors create a war for talent (Chapman, et al., 2005; Johnson, 2000; Michaels, Handfield-Jones, & Axelrod, 2001). Particularly salient in this war for talent is the ability to attract …

Japanese Corporate Governance: Structural Change And Financial Performance, Asli M. Colpan, Toru Yoshikawa, Takashi Hikino, Hiroaki Miyoshi

Research Collection Lee Kong Chian School Of Business

This paper analyzes institutional and legal changes related to corporate governance and their impact on financial performance in Japan since the second half of the 1990s. We attempt to address two issues systematically: (1) how much the governance reforms of Japanese firms transformed the conventional system of alliance capitalism and managerial control; and (2) what economic outcomes those governance changes have yielded. As the Commercial Code and other legal and institutional frameworks were revised, Japanese firms experienced shifts in terms of stock ownership, corporate control and managerial organizations. Our empirical results show that the influence of new ownership composition and …

Complementary And Alternative Medicine: Opportunities And Challenges, William Martin, Hugh Long

Publications – Dreihaus College of Business

Health care finance is complex in all sectors of the health care industry. This article highlights both the challenges and opportunities of financing and reimbursing care with a focus on CAM providers and CAM provider organizations.

Corporate Governance Reform As Institutional Innovation: The Case Of Japan, Toru Yoshikawa, Lai Si Tsui-Auch, Jean Mcguire

Research Collection Lee Kong Chian School Of Business

To address the convergence-divergence debate in corporate governance, we conduct a multiple-case, multiple-level study to analyze the diffusion of governance innovation in Japan. We argue that Japanese systems of corporate governance neither fully converge to, nor completely diverge from, the Anglo-American model. Rather, Sony-the pioneer of corporate governance reforms-and its followers selectively adopted features from this model, decoupled them from the original context, and tailored them to fit to their own situations to generate governance innovation. However, we find that the spread of innovation across firms and institutional levels is far from linear and straightforward, and that other well-regarded firms …

The Promise Of A Managerial Values Approach To Corporate Philanthropy, Jaepil Choi, Heli Wang

Research Collection Lee Kong Chian School Of Business

This article presents an alternative rationale for corporate philanthropy based on managerial values of benevolence and integrity. On the one hand, top managers with benevolence and integrity values are more likely to spread their intrinsic concern for others into the wider society in the form of corporate philanthropy. On the other hand, top managers high in benevolence and integrity are likely to contribute to improved managerial credibility and trusting firm-stakeholder relationships, thereby improving corporate financial performance. Therefore, the article makes the argument that both corporate philanthropy and corporate financial performance can better be interpreted as resulting from managers’ benevolence and …

Recasting Privacy Torts In A Spaceless World, Patricia Sánchez Abril

Business Law Articles and Papers

An abstract for this item is not available.

The Association Between Corporate Governance And Audit Fees, Cindy K. Harris

Business and Economics Faculty Publications

The Sarbanes-Oxley Act of 2002 (“SOX”) established not only corporate governance reform but also legislated significant changes to the practice of auditing publicly held corporations. Rules implemented by the Securities and Exchange Commission (“SEC”) further reinforced stronger corporate governance standards. The effect of these reforms on the cost of public audits is indisputable: the initial rise in audit fees was dramatic as corporations complied with the new provisions. This paper examines the relationship between corporate governance characteristics and audit fees for a random sample of 100 publicly traded corporations drawn from the 2005 Fortune 500 list. The data is obtained …

The Legal Periphery Of Dominant Firm Conduct, Herbert J. Hovenkamp

All Faculty Scholarship

This essay explores two different but related problems and how U.S. antitrust law and EU competition law approach them. The first is the offense of attempt to monopolize, which concerns the acts that a firm that is not yet dominant might undertake in order to become dominant. The second is the offense of monopoly or dominant firm leveraging, which occurs when a firm uses its dominant position in one market to cause some kind of harm in a different market where it also does business.

The language of EU and U.S. provisions concerning dominant firms provokes one to think that …

Auditor Locality, Audit Quality And Audit Pricing, Jong-Hag Choi, Jeong-Bon Kim, Aini Qiu, Yoonseok Zang

Research Collection School Of Accountancy

No abstract provided.

To Trust Or To Monitor: A Dynamic Analysis, Fali Huang

Research Collection School Of Economics

In a principal-agent framework, principals can mitigate moral hazard problems not only through extrinsic incentives such as monitoring, but also through agents’ intrinsic trustworthiness. Their relative usage, however, changes over time and varies across societies. This paper attempts to explain this phenomenon by endogenizing agent trustworthiness as a response to potential returns. When monitoring becomes relatively cheaper over time, agents acquire lower trustworthiness, which may actually drive up the overall governance cost in society. Across societies, those giving employees lower weights in choosing governance methods tend to have higher monitoring intensities and lower trust. These results are consistent with the …

Ten Questions About Ethics, Peter Kreeft, C. William Pollard

C. William Pollard Papers

These ten questions about ethics were suggested by Pollard for a presentation by Professor Peter Kreeft (Philosophy, Boston College) to be held at the Herman Miller Company in Holland, MI. The document includes Mr. Pollard's handwritten notes.

Darwinism And The Meaning Of Life, Arthur Falk

Center for the Study of Ethics in Society Papers

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

The Impact Of The Repeal Of The Stock-For-Debt Exception On Corporate Bankruptcy Restructurings, William D. Terando, Wayne H. Shaw

Scholarship and Professional Work - Business

This paper investigates the effect repeal of the stock-for-debt exception on corporate bankruptcy restructurings. This exception permitted corporations to exclude cancellation of indebtedness income from gross income provided they exchanged their own common equity for debt while in Chapter 11. Consistent with claims made by Easton (1994), it is found that the change in tax law imposed significant explicit tax costs on bankruptcy filers. Despite these costs, it is found that many of these firms altered their debt restructure method to preserve net operating losses and reduce their cost of equity. Almost half of the sample firms issued significant levels …

Fish Behaviour And Welfare, Lynne U. Sneddon

Ethology Collection

Fish are farmed intensively in aquaculture which is an economic necessity to provide large quantities for the food industry yet many species’ normal behaviours may be impaired by the nature of intensive aquaculture. Recommendations have suggested that for optimum welfare, animals should be able to express their natural suite of behaviours. Confining large migratory species such as salmonids to relatively small tanks or cages means they are unable to perform the extensive migrations performed by their wild counterparts so are these fish frustrated? When considering why salmonids migrate, their motivation is to find food yet if they are well fed …

Electrochemical Detection Of Prostate Carcinoma Biomarkers Using Nanotechnology, Kathryn Leonard

Pell Scholars and Senior Theses

The first chapter of this thesis speaks about prostate specific antigen, carbon nanotubes and horseradish peroxidase. The second chapter discusses the electrochemistry and catalysis of horseradish peroxidase (HRP) and myoglobin (Mb) covalently attached to vertically aligned carbon nanotube arrays used as a tranducer. Cyclic voltammetry results gave quasi-reversible FeIII/FeII voltammetry and electrochemical catalysis involving catalytic reduction of hydrogen peroxide for both the iron-heme enzymes in myoglobin and horseradish peroxidase coupled to the carboxylated ends of the carbon nanotube arrays by amine bioconjugation reactions. Reduction peak currents gave linear relationships with scan-rates, typical of thin layer voltammetry. Results suggest that the …

The Impact Of Standardized Testing On Student Performance In The United States, Stephanie Linden

Pell Scholars and Senior Theses

In the United States, the current trend in education is the dependence on standardized testing to improve our current education system. The No Child Left Behind Act of 2001 mandates higher test scores and improved academic performance in schools nation-wide, especially inner city schools. This thesis will attempt to evaluate whether standardized testing and the methods used to assess high performance has helped to create a better education system in the United States, or whether it has hindered student performance. There has been much discussion about this topic, some positive and some not. In this paper I will present both …

Examining The Performance Of Competition Policy Enforcement Agencies: A Cross-Country Comparison, A. E. Rodriguez, Lesley A. Denardis

Political Science & Global Affairs Faculty Publications

An examination of a cross-section of 102 nations reveals marked differences in the performance of their competition policy enforcement agencies. Likely explanatory factors considered include gross domestic product per capita, the intensity of competition, physical size, the level of corruption, national experience with a modern antitrust law and whether the common law prevails. Competition policy agencies operate poorly in jurisdictions characterized by corruption and poor competitive intensity. In fact, differences in levels of corruption and variations in the intensity of competition account for approximately 78 percent of the observed variance in agency performance. Group characteristics, however, vary by region and …

Allagash Wilderness Waterway Working Group On Structure, Management And Oversight: Choosing Common Ground And Moving Ahead, Allagash Wilderness Waterway Working Group

Maine History & Policy Development

In his June 19, 2006, Executive Order, Governor John E. Baldacci directed the Working Group to “offer its best guidance and advice to the Governor respecting the long-term governance, management, and oversight structure for the Allagash Wilderness Waterway” (AWW). In the intervening six months the members of the Working Group have engaged in an examination of the forty-year history of the Waterway and an analysis of the conditions and circumstance that led to the Governor’s Executive Order. We have reviewed documentation of the AWW history, taken testimony at numerous public meetings and hearings, conducted correspondence with members of the several …

Allagash Wilderness Waterway Working Group On Structure, Management And Oversight: Choosing Common Ground And Moving Ahead (Executive Summary), Allagash Wilderness Waterway Working Group

Maine History & Policy Development

In his June 19, 2006, Executive Order, Governor John E. Baldacci directed the Working Group to “offer its best guidance and advice to the Governor respecting the long-term governance, management, and oversight structure for the Allagash Wilderness Waterway” (AWW). In the intervening six months the members of the Working Group have engaged in an examination of the forty-year history of the Waterway and an analysis of the conditions and circumstance that led to the Governor’s Executive Order. We have reviewed documentation of the AWW history, taken testimony at numerous public meetings and hearings, conducted correspondence with members of the several …

Best Practices In Ethical Leadership (Chapter Seven Of The Practice Of Leadership), Craig E. Johnson

Faculty Publications - College of Business

Excerpt: "The arrival of the new millennium brought with it a tsunami of corporate scandals. Just as the publicity from one wave of discredited companies (Enron, World Com, Tyco, Adelphia) subsided, another wave rose to take its place (Health South, Strong Mutual Funds), only to be followed by yet another (Fannie Mae, AIG Insurance). All of these cases of moral failure serve as vivid reminders of the importance of ethical leadership. In every instance, leaders engaged in immoral behavior and encouraged their followers to do the same."

Auditor Independence Post Sarbanes Oxley: The Case For Increased Self-Regulation, Linda Christiansen, Ann Morales Olazábal

Business Law Articles and Papers

An abstract for this item is not available.

The End Of Foreign Aid As We Know It: The Profitable Alleviation Of Poverty In A Globalized Economy, Scott Kelley, Patricia Werhane, Laura Hartman

Mission and Ministry Publications

This chapter defends the following thesis: Poverty can be alleviated, if not eradicated, both locally and globally, but only if we change our narratives about global free enterprise and only if we rethink our mindsets regarding how poverty issues are is most effectively addressed. The chapter begins with an overview of the current state of the economic landscape with particular focus on – and criticism of –the failures of strategies employed since the middle of the last century. We then explore how a transfer of roles and responsibilities for global poverty from these traditional development practices to innovative, private, for-profit …

Quality Models: Selecting The Best Model To Deliver Results, William Martin

Publications – Dreihaus College of Business

No abstract provided.

Farm Animal Welfare: In Legislatures, Corporate Boardrooms, And Private Kitchens, Andrea Gavinelli, Miyun Park

State of the Animals 2007

According to the Food and Agriculture Organization of the United Nations, globally, approximately 56 billion land animals—including nearly 48 billion broiler chickens— are slaughtered for human consumption in a single year (Food and Agriculture Organization of the United Nations 2004), in addition to an untold number of aquatic animals. The numbers of individual animals raised and killed by the meat, egg, and dairy industries far surpass the number of animals with whom human beings have any other relationship—whether they be those seen as fabric, target practice, test tubes, companions, or sideshow spectacles.

The Missing Monitor In Corporate Governance: The Directors' And Officers' Liability Insurer, Tom Baker, Sean J. Griffith

All Faculty Scholarship

This article reports the results of empirical research on the monitoring role of directors’ and officers’ liability insurance (D&O insurance) companies in American corporate governance. Economic theory provides three reasons to expect D&O insurers to serve as corporate governance monitors: first, monitoring provides insurers with a way to manage moral hazard; second, monitoring provides benefits to shareholders who might not otherwise need the risk distribution that D&O insurance provides; and third, the “bonding” provided by risk distribution gives insurers a comparative advantage in monitoring. Nevertheless, we find that D&O insurers neither monitor corporate governance during the life of the insurance …

Some Peer-To-Peer, Democratically And Voluntarily Produced Thoughts About 'The Wealth Of Networks: How Social Production Transforms Markets And Freedom,' By Yochai Benkler, Ann Bartow

Law Faculty Scholarship

In this review essay, Bartow concludes that The Wealth of Networks: How Social Production Transforms Markets and Freedom by Yochai Benkler is a book well worth reading, but that Benkler still has a bit more work to do before his Grand Unifying Theory of Life, The Internet, and Everything is satisfactorily complete. It isn't enough to concede that the Internet won't benefit everyone. He needs to more thoroughly consider the ways in which the lives of poor people actually worsen when previously accessible information, goods and services are rendered less convenient or completely unattainable by their migration online. Additionally, the …