Disorganized Crimes [electronic resource] : Why Corporate Governance and Government Intervention Failed, and What We Can Do About It /
Munk, Bernard E.author.
Corporate misgovernance and the failure of government regulation have led to major financial fiascos. 'Disorganized crimes' are disruptive and costly. Munk links the two major eras of corporate misgovernance during the last decade to explain how these events occur and what can be done to prevent them from re-occurring.
Description based upon print version of record.
Cover; Contents; List of Tables; List of Figures; Acknowledgments; 1 Who's the Fish?; 2 Behind Every Great Fortune Is a Great Crime; The Great Heists of History; The Credit Crisis was Disorganized Crime; 3 Seeing One's Friends Getting Rich Is Upsetting; Boom-Bust, Financial Scandal and Governance; An Assessment; 4 Round Up the Usual Suspects; Incentives for Misgovernance; Conspiracy or Self-Delusion; 5 Carrots for Good Governance; Good Governance Requires Proper Incentives; Failures of Rear View Mirror Reforms; Creating Incentives for Good Corporate Governance
6 The Conflicts of Managerial CapitalismThe Permanent Conflict of Interest; The Paradox of Corporate Governance Failures; The Agency Problem; Performance Pay: A Two-Edged Sword; Unlearned Lessons in Supervising Risk Management; 7 Call Them Disorganized Crimes; Other People's Property; Common Themes of Disorganized Crimes; 8 Connecting the Dots; Disorganized Crimes: Origins and Consequences; Wealth Effects of Option Compensation; Economic Motivation; Uncertainty and the Environment for Producing Collusion; Gatekeeping;  Regulation and Incentives; 9 The Corporate Governance Dilemma
What Do We Want From Our System?Panics, Uncertainty and Institutional Change; Central Issues; A Fatal Flaw in Contemporary Corporate Governance; 10 Micro Risks and Macro Disturbances; Credit Default Swaps; Reflexivity; 11 Crime and Punishment; 12 Foolish Bankers and Burdened Taxpayers; Pay Me Now or Pay Me Later; Too Big to be Allowed to Fail: AIG and the GSEs; 13 No Place to Hide; Public Markets and Public Policy; Public Policy Regarding Corporate Defaults; Moral Hazard; Political Governance - Contradictions in Public Policy Stances; 14 Remediation; The Partnering of Markets and Regulations
A Framework for RemediationRisk Management Committee; RMC Member Qualifications; Expert Board Members; Director Liability; Director's Insurance; Director Independence; Separating the Offices of Chairman and CEO; Appointment of Directors and Terms of Office; Term Limits; Compensation Systems and internal promotion standards; Using Outside Compensation Experts; Dealing with Capital Market Conspirators; Capital Market Servicer Liability; Term Limits for Capital Market Servicers; Rating Agencies Once More; Banks and Other Financial Intermediaries; Is the Market a Casino?; The Role of Government
Other Market Responses to Deficient Corporate Governance15 Financial Alchemy; Enron Era v. Credit Crisis: Déjà Vu All Over Again?; Buildup to the Credit Crisis of 2007-08; Nesting: Birds of a Feather; Market Failures or Market-Centered Solutions; Bankruptcy as a Market Driven Process; Forgetting Nothing and Learning Something: Observations and Conclusions on Corporate Governance and; 16 Epilogue; Notes; Bibliography; Author Index; Subject Index
Includes bibliographical references and index.
Corporate misgovernance and the failure of government regulation have led to major financial fiascos. 'Disorganized crimes' are disruptive and costly. Munk links the two major eras of corporate misgovernance during the last decade to explain how these events occur and what can be done to prevent them from re-occurring.
Risk management.
Corporations—Finance.
Business enterprises—Finance.
Commercial law.
Macroeconomics.
Economic theory.
Risk Management.
Corporate Finance.
Business Finance.
Commercial Law.
Macroeconomics/Monetary Economics//Financial Economics.
Economic Theory/Quantitative Economics/Mathematical Methods.