The State Of U.S. Corporate Governance: What'S Right And What'S Wrong?
AbstractLargely as a result of failures at Enron, WorldCom, Tyco, and other prominent American companies, U.S. corporate governance practices have come under attack. These much publicized failures and the resulting popular outcry have served as catalysts for legislative and regulatory changes that include the Sarbanes-Oxley Act of 2002 and new governance guidelines from the NYSE and NASDAQ. But is the U.S. corporate governance system really as bad as critics suggest? And will the recent legislative and regulatory changes lead to a more effective system? 2003 Morgan Stanley.
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Bibliographic InfoArticle provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.
Volume (Year): 15 (2003)
Issue (Month): 3 ()
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196
Other versions of this item:
- Bengt Holmstrom & Steven N. Kaplan, 2003. "The State of U.S. Corporate Governance: What's Right and What's Wrong?," NBER Working Papers 9613, National Bureau of Economic Research, Inc.
- G3 - Financial Economics - - Corporate Finance and Governance
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
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