Driven to the brink : why corporate governance, board leadership and culture matter

• Main Authors: Micklethwait, Alicia (Author), Dimond, Patricia (Author)
• Format: Electronic eBook
• Language: English
• Published: London : Palgrave Macmillan, 2017.
• Subjects: Corporate governance.; elektronické knihy; electronic books
• ISBN: 9781137590534; 9781137590510
• Physical Description: 1 online resource

Driven to the Brink is a collection of short stories about corporate disasters and how inadequate governance and flawed culture caused a massive destruction of shareholder value. Look at any major corporate meltdown and two factors emerge: a failure of corporate governance and a culture where short-...

Table of Contents:

• Foreword; Acknowledgements; Contents; About the Authors; Praise for Driven to the Brink ; 1: Introduction; Companies Do not Fail, Corporate Boards and Leadership Teams Do; Independent Thinking is the Greatest Value the Board can Add; The Trouble with Dominant CEOs; Board Oversees Strategy and Risk; A Slovenly Approach to Risk Management is a Common Theme; Board Oversees Culture: Culture Defines Leadership; A Productive Ethical Culture must be Part of a Risk-Management Strategy; The Stories that Follow; 2: Enron: Launch to Boom and Bust, 1985-2001.
• The Creation of Enron and Its First Ten Years Introducing the Dream Team ...?; And then there was the Board; The Enron Culture: 'Rank or Yank'; Global Energy Provider and Trader to Ponzi Scheme, 1994-2001; The Most Creative Financial Officer of the Year: Where there is Smoke there is Fire.; Going Off-Balance Sheet; The Beginning of the End; The Powers Committee Post-Mortem; Ineffectual Board Oversight: Failure in Strategy, Risk Management and Culture; A Few Selected Highlights from the Enron Story; 3: The Banking Crisis: Born of Dreams, Fuelled by Bad Behaviours.
• 'The Blood of the Global Economy has Begun to Freeze Right from its Heart-The United States' The Pursuit of Happiness: Let the Good Times Roll; Cracks Began to Form: The Unravelling; The Aftermath; Crisis in the UK Started with the 'Run on the Rock'; London's Financial Markets Transformed Through 'Big Bang'; The Good Times in the UK; The Unravelling in the UK; The Aftermath in the UK; Canada: Obama Adviser Looks to Canada's Financial System34; The Good Times in Canada; Canada: Tripped but did not Fall; So What did We Learn from this GLOBAL Crisis: Highlights of Regulatory Reform.
• What Role did Inadequate Corporate Governance and Flawed Culture Play? A Productive, Ethical Culture must be Part of a Risk Management Strategy; Moving Forward; A Few Selected Highlights from the Banking Crisis Story; 4: Global Banking: Will the Scandals Never End?; Libor: Rigging Interest Rates on a Grand Scale; Early Days of Libor; Credit Ratings Encouraged Banks to Lowball Submissions; Rigging Rates for Personal Profit; Regulators Moved In; New Scandal Emerges Hard on the Heels of Libor: FX Manipulation; 'The 3 Musketeers' and 'the Cartell' Formed to Manipulate the Fix.
• Out in the Open Where were the Systems and Controls to Prevent this?; 'When Bankers Become Detached from End-ƯUsers, Their only Reward Becomes Money' ; Perverse Incentives; Amoral Focus on Profit; When Bad Behaviour is Ignored it will Become Entrenched; A Few Selected Highlights from the Global Banking Story; 5: Olympus: Management was Corrupt at Its Core; Early Days; Appreciation of the Yen Led to Financial Engineering; Hiding Losses in Tokkin; Tobashi: 'Flying Away'; Final Leg of Tobashi Scheme: Three Small Companies; Gyrus Acquisition: Record-Breaking Advisory Fees.