Volume 5, Issue 1 | Summer 2014
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Corporate Heroin: a Defense of Perks James C
University of Chicago Law School Chicago Unbound Coase-Sandor Working Paper Series in Law and Coase-Sandor Institute for Law and Economics Economics 2004 Corporate Heroin: A Defense of Perks James C. Spindler M. Todd Henderson Follow this and additional works at: https://chicagounbound.uchicago.edu/law_and_economics Part of the Law Commons Recommended Citation James C. Spindler & M. Todd Henderson, "Corporate Heroin: A Defense of Perks" (John M. Olin Program in Law and Economics Working Paper No. 221, 2004). This Working Paper is brought to you for free and open access by the Coase-Sandor Institute for Law and Economics at Chicago Unbound. It has been accepted for inclusion in Coase-Sandor Working Paper Series in Law and Economics by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. CHICAGO JOHN M. OLIN LAW & ECONOMICS WORKING PAPER NO. 221 (2D SERIES) Corporate Heroin: A Defense of Perks, Executive Loans, and Conspicuous Consumption M. Todd Henderson and James C. Spindler THE LAW SCHOOL THE UNIVERSITY OF CHICAGO September 2004 This paper can be downloaded without charge at: The Chicago Working Paper Series Index: http://www.law.uchicago.edu/Lawecon/index.html and at the Social Science Research Network Electronic Paper Collection: http://ssrn.com/abstract_id=597661 Corporate Heroin: † A Defense of Perks, Executive Loans, and Conspicuous Consumption M. Todd Henderson and James C. Spindler* Abstract: We argue that firms undertake to reduce employee savings in order to avoid final period problems that occur when employees accumulate enough wealth to retire and leave the industry. Normally, reputation constrains employee behavior, since an employee who “cheats” at one firm will then find herself unable to get a job at another. -
The Lesson from Enron Case - Moral and Managerial Responsibilities
See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/306091392 The Lesson from Enron Case - Moral and Managerial Responsibilities Article · August 2016 CITATION READS 1 27,811 1 author: Seied Beniamin Hosseini Aligarh Muslim University 29 PUBLICATIONS 26 CITATIONS SEE PROFILE Some of the authors of this publication are also working on these related projects: Strategies for Growth and Sustainability: A study of SMEs in India View project All content following this page was uploaded by Seied Beniamin Hosseini on 04 September 2016. The user has requested enhancement of the downloaded file. z Available online at http://www.journalcra.com INTERNATIONAL JOURNAL OF CURRENT RESEARCH International Journal of Current Research Vol. 8, Issue, 08, pp.37451-37460, August, 2016 ISSN: 0975-833X RESEARCH ARTICLE THE LESSON FROM ENRON CASE - MORAL AND MANAGERIAL RESPONSIBILITIES 1,*Seied Beniamin Hosseini and 2Dr. Mahesh, R. 1PG Student in MBA, B.N. Bahadur Institute of Management Sciences (BIMS), University of Mysore, Mysore Karnataka, India 2Associate Professor, B.N. Bahadur Institute of Management Sciences (BIMS), University of Mysore Mysore Karnataka, India ARTICLE INFO ABSTRACT Article History: The Enron scandal, give out in October 2001, Enron Top officials abused their privileges and power, manipulated information put their own interests above those of their employees and the public and Received 19th May, 2016 Received in revised form failed to exercise proper oversight or shoulder responsibility for ethical failings which eventually led 15th June, 2016 to the bankruptcy of an American energy company based in Houston, Texas, and the dissolution of Accepted 17th July, 2016 Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. -
Cose 8 Enrsn: on the Side of the Angelso
Cose 8 Enrsn: On the Side of the Angelso We're on the side of angels. We're tabing on the entrenched merger's architect and Enron's first CEO, appeared to be monopolies. In every business we ve been in, we're the one of the few individuals who recognizedthe opportuni- good guys. ties ofderegulation in the United States and privatization abroad. the 1990s, Enron owned an interest in Jeffrey Skilling, President and CEO, By early a commenced its power Enron Corporation 4,100 mile pipeline inArgentina and marketing business worldwide. On the day he was elected CEO, Enron's president, Jef- lr 1994, Fortune ranked Enron lst in a new category frey Skilting, was pictured on the front cover of the Febru- pipelines, and 39th overall as one of "America's Most ary 12,2001, edition of BusinessWee[ dressed in a black Admired Companies." By 1996, Enron had climbed to 22nd turtleneck and holding an electrified orb in his right hand" overall. In the 1990s, Enron busily expanded its business appearing more sorcerer than executive. Enron was charg- skucfure into other areas, such as energy generation, broad- ing into the deregulated energy markets. Skilling defended band, and financial markets. Yet Enron maintained its domi- Enron's activities, saying: nance of the pipeline industry's ranking and was ranked in the top 20 firms overall through February 2001 . In that year, We're on the side of angels. We're taking on the FortunenarredEnronthe most innovative firm in the United enkenched monopolies. In every business we're in, we're States for the second comecutive year. -
Research Article
z Available online at http://www.journalcra.com INTERNATIONAL JOURNAL OF CURRENT RESEARCH International Journal of Current Research Vol. 8, Issue, 08, pp.37451-37460, August, 2016 ISSN: 0975-833X RESEARCH ARTICLE THE LESSON FROM ENRON CASE - MORAL AND MANAGERIAL RESPONSIBILITIES 1,*Seied Beniamin Hosseini and 2Dr. Mahesh, R. 1PG Student in MBA, B.N. Bahadur Institute of Management Sciences (BIMS), University of Mysore, Mysore Karnataka, India 2Associate Professor, B.N. Bahadur Institute of Management Sciences (BIMS), University of Mysore Mysore Karnataka, India ARTICLE INFO ABSTRACT Article History: The Enron scandal, give out in October 2001, Enron Top officials abused their privileges and power, manipulated information put their own interests above those of their employees and the public and Received 19th May, 2016 Received in revised form failed to exercise proper oversight or shoulder responsibility for ethical failings which eventually led 15th June, 2016 to the bankruptcy of an American energy company based in Houston, Texas, and the dissolution of Accepted 17th July, 2016 Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. Published online 31st August, 2016 In addition to being the largest bankruptcy reorganization in American history at that time, Enron undoubtedly is the biggest audit failure. It is one of companies which fell down too fast. This paper Key words: will analyze the reason for this event in detail including the management, conflict of interest and Enron, Management Control System, accounting fraud. Meanwhile, it will make analysis the moral responsibility From Individuals’ Angle Fraud, Sarbanes, Corporate Leadership. and Corporation’s Angle. -
The Curious Incident of the Law Firm That Did Nothing in the Night-Time
Scholarly Commons @ UNLV Boyd Law Scholarly Works Faculty Scholarship 2007 The Curious Incident of the Law Firm That Did Nothing in the Night-Time Nancy B. Rapoport University of Nevada, Las Vegas -- William S. Boyd School of Law Follow this and additional works at: https://scholars.law.unlv.edu/facpub Part of the Law and Psychology Commons, and the Legal Ethics and Professional Responsibility Commons Recommended Citation Rapoport, Nancy B., "The Curious Incident of the Law Firm That Did Nothing in the Night-Time" (2007). Scholarly Works. 126. https://scholars.law.unlv.edu/facpub/126 This Book Review is brought to you by the Scholarly Commons @ UNLV Boyd Law, an institutional repository administered by the Wiener-Rogers Law Library at the William S. Boyd School of Law. For more information, please contact [email protected]. Working Paper No. 07-04 December 7, 2007 The Curious Incident of the Law Firm that Did Nothing in the Night-Time (Reviewing Milton C. Regan, Jr., Eat What You Kill: The Fall of a Wall Street Lawyer [Univ. of Michigan Press, 2004]) Nancy Rapoport William S. Boyd School of Law University of Nevada Las Vegas This paper can be downloaded without charge from the Social Science Research Network Electronic library at: http://ssrn.com/abstract=1017627 Electronic copy available at: http://ssrn.com/abstract=1017627 Legal Ethics, Volume 10, No. 1 Book Review THE CURIOUS INCIDENT OF THE LAW FIRM THAT DID NOTHING IN THE NIGHT-TIME1 A review of Milton C. Regan, Jr, Eat What You Kill: The Fall of a Wall Street Lawyer (University of Michigan Press, 2004) by Nancy B. -
NARRATIVES of the ENRON SCANDAL in 2000S POLITICAL CULTURE
BIG BUSINESS, DEMOCRACY, AND THE AMERICAN WAY: NARRATIVES OF THE ENRON SCANDAL IN 2000s POLITICAL CULTURE Rosalie Genova A dissertation submitted to the faculty of the University of North Carolina at Chapel Hill in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of History Chapel Hill 2010 Approved by: Dr. John Kasson Dr. Michael Hunt Dr. Peter Coclanis Dr. Lawrence Grossberg Dr. Benjamin Waterhouse © 2010 Rosalie Genova ALL RIGHTS RESERVED ii ABSTRACT ROSALIE GENOVA: Big Business, Democracy, and the American Way: Narratives of The Enron Scandal in 2000s Political Culture (Under the Direction of Dr. John Kasson) This study examines narratives of the Enron bankruptcy and their political, cultural and legal ramifications. People’s understandings and renderings of Enron have affected American politics and culture much more than have the company’s actual errors, blunders and lies. Accordingly, this analysis argues that narratives about Enron were, are, and will continue to be more important than any associated “facts.” Central themes of analysis include the legitimacy and accountability of leadership (both governmental and in business); contestation over who does or does not “understand” business, economics, or the law, and the implications thereof; and conceptions of the American way, the American dream, and American civic culture. The study also demonstrates how Enron narratives fit in to longer patterns of American commentary on big business. iii Dedicated to the memory of my father Paul, 1954-2008 the only “Doctor Genova” I have ever known iv ACKNOWLEDGMENTS To a certain extent, the colleagues who have been making fun of me ever since I developed my dissertation topic are right: this research process has been different, shall we say, from that of most historians. -
Enron's Ethical Collapse
Digital Commons @ George Fox University Faculty Publications - School of Business School of Business Summer 2003 Enron’s Ethical Collapse: Lessons for Leadership Educators Craig E. Johnson George Fox University, [email protected] Follow this and additional works at: https://digitalcommons.georgefox.edu/gfsb Part of the Business Commons Recommended Citation Johnson, Craig E., "Enron’s Ethical Collapse: Lessons for Leadership Educators" (2003). Faculty Publications - School of Business. 87. https://digitalcommons.georgefox.edu/gfsb/87 This Article is brought to you for free and open access by the School of Business at Digital Commons @ George Fox University. It has been accepted for inclusion in Faculty Publications - School of Business by an authorized administrator of Digital Commons @ George Fox University. For more information, please contact [email protected]. Journal of Leadership Education Volume 2, Issue 1 - Summer2003 Enron’s Ethical Collapse: Lessons for Leadership Educators Craig Johnson Professor of Communication Arts Department of Communication George Fox University 414 Meridian St. Newberg, OR 97132 (503) 554-2610 [email protected] Abstract Top officials at Enron abused their power and privileges, manipulated information, engaged in inconsistent treatment of internal and external constituencies, put their own interests above those of their employees and the public, and failed to exercise proper oversight or shoulder responsibility for ethical failings. Followers were all too quick to follow their example. Therefore, implications for teaching leadership ethics include, educators must: (a) share some of the blame for what happened at Enron, (b) integrate ethics into the rest of the curriculum, (c) highlight the responsibilities of both leaders and followers, (d) address both individual and contextual variables that encourage corruption, (e) recognize the importance of trust and credibility in the leader-follower relationship, and (f) hold followers as well as leaders accountable for ethical misdeeds. -
Hidden Financial Risk: Understanding Off-Balance Sheet Accounting
00 Ketz FM 5/21/03 9:58 AM Page i Hidden Financial Risk Understanding Off–Balance Sheet Accounting 00 Ketz FM 5/21/03 9:58 AM Page ii 00 Ketz FM 5/21/03 9:58 AM Page iii Hidden Financial Risk Understanding Off–Balance Sheet Accounting J. Edward Ketz JOHN WILEY & SONS, INC. 00 Ketz FM 5/21/03 9:58 AM Page iv This book is printed on acid-free paper. ∞ Copyright © 2003 by J. Edward Ketz. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada Copyright 2002 SmartPros Ltd. www.smartpros.com. Reprinted with permission. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011, fax 201-748-6008, e-mail: [email protected]. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. -
Copyright by Gavin Giles Benke 2012
Copyright by Gavin Giles Benke 2012 The Dissertation Committee for Gavin Giles Benke Certifies that this is the approved version of the following dissertation: Electronic Bits and Ten Gallon Hats: Enron, American Culture and the Postindustrial Political Economy Committee: Jeffrey L. Meikle, Co-Supervisor Steven D. Hoelscher, Co-Supervisor Mark C. Smith Brian A. Bremen Erika M. Bsumek Electronic Bits and Ten Gallon Hats: Enron, American Culture and the Postindustrial Political Economy by Gavin Giles Benke, B.A.; M.A. Dissertation Presented to the Faculty of the Graduate School of The University of Texas at Austin in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy The University of Texas at Austin May 2012 Dedication In memory of Albert Benke. Acknowledgements Like any large project, this dissertation would not have been completed without the help and input of many people. First, I must thank my wonderful and patient dissertation committee. As co-chair, Jeffrey Meikle was an invaluable resource and encouraging voice throughout the process. He endured countless hours spent listening to me work through some of the thornier problems that appeared while researching and writing. Even before starting the dissertation, his work on industrial design provided an invaluable model for studying the intersections of corporations and cultural production. Steve Hoelscher, my other co-chair, has played a large part in changing the way that I approach scholarship. Along with his graduate seminar on cultural geography and a geography field exam, our many conversations opened up a whole new way of thinking about culture for me. From an early point, when he grabbed a pad of Enron letterhead that he had chanced across and gave it to me, Mark Smith proved to be an enthusiastic and supportive reader. -
Cases in Corporate Governance
Cases in Corporate Governance Robert Wearing eBook covers_pj orange.indd 96 26/4/08 16:02:55 Cases in Corp Gov 13/4/05 3:43 pm Page i Cases in Corporate Governance Cases in Corp Gov 13/4/05 3:43 pm Page ii Cases in Corp Gov 13/4/05 3:43 pm Page iii Cases in Corporate Governance ROBERT WEARING SAGE Publications London G Thousand Oaks G New Delhi Cases in Corp Gov 13/4/05 3:43 pm Page iv © Robert Wearing, 2005 First published 2005 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act, 1988, this publication may be reproduced, stored or transmitted in any form, or by any means, only with the prior permission in writing of the publishers, or in the case of reprographic reproduction, in accordance with the terms of licences issued by the Copyright Licensing Agency. Enquiries concerning reproduction outside those terms should be sent to the publishers. SAGE Publications 1 Oliver’s Yard 55 City Road London EC1Y 1SP SAGE Publications Inc 2455 Teller Road Thousand Oaks, California 91320 SAGE Publications India Pvt Ltd B-42, Panchsheel Enclave Post Box 4109 New Delhi 110 017 Library of Congress Control Number: 2005901202 A catalogue record for this book is available from the British Library ISBN 1-4129-0876-0 ISBN 1-4129-0877-9 (pbk) Typeset by M Rules Printed and bound in Great Britain by Athenaeum Press, Gateshead Cases in Corp Gov 13/4/05 3:43 pm Page v To Inés Cases in Corp Gov 13/4/05 3:43 pm Page vi Cases in Corp Gov 13/4/05 3:43 pm Page -
01-Johnson (Ethical).Qxd 10/12/2004 6:53 PM Page 9
01-Johnson (Ethical).qxd 10/12/2004 6:53 PM Page 9 1 The Leader’s Light or Shadow We are not angels, but we may at times be better versions of ourselves. Historian Erwin Hargrove What’s Ahead This chapter introduces the metaphor of light and shadow to highlight the ethical challenges of leadership. Leaders have the power to illuminate the lives of followers or to cover them in darkness. They cast shadows when they (a) abuse power, (b) hoard privileges, (c) engage in deceit, (d) act inconsis- tently, (e) misplace or betray loyalties, and (f) fail to assume responsibilities. A Dramatic Difference In an influential essay entitled “Leading From Within,” educational writer and consultant Parker Palmer introduced a powerful metaphor to dramatize the distinction between ethical and unethical leadership. According to Palmer, the difference between moral and immoral leaders is as sharp as the contrast between light and darkness, between heaven and hell. A leader is a person who has an unusual degree of power to create the conditions under which other people must live and move and have their being, conditions that can either be as illuminating as heaven or as shadowy as hell. A leader must take special responsibility for what is going on inside his or her own self, inside his or her consciousness, lest the act of leadership create more harm than good.1 9 01-Johnson (Ethical).qxd 10/12/2004 6:53 PM Page 10 10—THE SHADOW SIDE OF LEADERSHIP Psychotherapist Carl Jung was the first social scientist to identify the shadow side of the personality. -
A Metaphor Analysis of E-Mail Communication at Enron
ABSTRACT TURNAGE, ANNA KIMBERLY. Identification and Disidentification in Organizational Discourse: A Metaphor Analysis of E-mail Communication at Enron. (Under the direction of Dr. Victoria J. Gallagher). This project is situated within the interpretive tradition in organizational communication research, focusing on organizational discourse. It goes further by bringing the discussion into the 21 st century through examining how communication technology--specifically e-mail – plays a role in the linguistic practices that help create, maintain and change organizational discourse. The overarching theme driving my research borrows from Conrad’s (1985) notion of coordination and control, and the dialectical tensions related to this concept, specifically, identification/disidentification and power/resistance. The texts analyzed in this project were drawn from a database of e-mails from the now defunct Enron Corporation. The project is centered on three overarching questions: • How did metaphor help create, maintain, and provide opportunities for potential change in dominant discourses at Enron? • How did metaphor help employees at Enron bridge dialectical tensions related to coordination and control? • To what extent, and how did e-mail function to help enable Enron employees to bridge dialectical tensions? The first question is addressed through a rhetorical analysis of the metaphors used by employees in Enron e-mails. This analysis demonstrates how metaphor directed attention to certain ideologies and values and deflected attention away from others during two different time periods in the company’s life – during its heyday as a Fortune 500 company, and as the company began to collapse. The results of the rhetorical analysis are then used to address the second question through a theoretical analysis of how the use of metaphor between the two time periods illustrates employees’ attempts to identify or dis identify from the organization.