Corporate Governance Failures : : The Role of Institutional Investors in the Global Financial Crisis / / ed. by James P. Hawley, Andrew T. Williams, Shyam J. Kamath.
Corporate governance, the internal policies and leadership that guide the actions of corporations, played a major part in the recent global financial crisis. While much blame has been targeted at compensation arrangements that rewarded extreme risk-taking but did not punish failure, the performance...
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Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / ed. by James P. Hawley, Andrew T. Williams, Shyam J. Kamath. Philadelphia : University of Pennsylvania Press, [2011] ©2011 1 online resource (352 p.) : 22 illus. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Chapter 1. Introduction -- Chapter 2. Beyond Risk: Notes Toward a Responsible Investment Theory -- Chapter 3. The Quality of Corporate Governance Within Financial Firms in Stressed Markets -- Chapter 4. Chasing Alpha: An Ideological Explanation of the Catastrophic Failure in the U.K.'s Financial Services Industry -- Chapter 5. Corporate Governance, Risk Analysis, and the Financial Crisis: Did Universal Owners Contribute to the Crisis? -- Chapter 6. Great Expectations: Institutional Investors, Executive Remuneration, and ''Say on Pay'' -- Chapter 7. Against Stupidity, the Gods Themselves Contend in Vain: The Limits of Corporate Governance in Dealing with Asset Bubbles -- Chapter 8. Real Estate, Governance, and the Global Economic Crisis -- Chapter 9. The Sophisticated Investor and the Global Financial Crisis -- Chapter 10. The Role of Investment Consultants in Transforming Pension Fund Decision Making: The Integration of Environmental, Social, and Governance Considerations into Corporate Valuation -- Chapter 11. Funding Climate Change: How Pension Fund Fiduciary Duty Masks Trustee Inertia and Short-Termism -- Notes -- List of Contributors -- Index -- Acknowledgments restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Corporate governance, the internal policies and leadership that guide the actions of corporations, played a major part in the recent global financial crisis. While much blame has been targeted at compensation arrangements that rewarded extreme risk-taking but did not punish failure, the performance of large, supposedly sophisticated institutional investors in this crisis has gone for the most part unexamined. Shareholding organizations, such as pension funds and mutual funds, hold considerable sway over the financial industry from Wall Street to the City of London. Corporate Governance Failures: The Role of Institutional Investors in the Global Financial Crisis exposes the misdeeds and lapses of these institutional investors leading up to the recent economic meltdown.In this collection of original essays, edited by pioneers in the field of fiduciary capitalism, top legal and financial practitioners and researchers discuss detrimental actions and inaction of institutional investors. Corporate Governance Failures reveals how these organizations exposed themselves and their clientele to extremely complex financial instruments, such as credit default swaps, through investments in hedge and private equity funds as well as more traditional equity investments in large financial institutions. The book's contributors critique fund executives for tolerating the "pursuit of alpha" culture that led managers to pursue risky financial strategies in hopes of outperforming the market. The volume also points out how and why institutional investors failed to effectively monitor such volatile investments, ignoring relatively well-established corporate governance principles and best practices.Along with detailed investigations of institutional investor missteps, Corporate Governance Failures offers nuanced and realistic proposals to mitigate future financial pitfalls. This volume provides fresh perspectives on ways institutional investors can best act as gatekeepers and promote responsible investment. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2022) Corporate governance -- Congresses. Corporate governance Congresses. Financial risk -- Congresses. Financial risk Congresses. Global Financial Crisis, 2008-2009 -- Congresses. Global Financial Crisis, 2008-2009 Congresses. Institutional investments -- Congresses. Institutional investments Congresses. Political Science. BUSINESS & ECONOMICS / Investments & Securities / General. bisacsh Business. Economics. Public Policy. Augar, Philip, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Dixon, Adam D., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Dravis, Bruce, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Eichholtz, Piet, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Hawley, James P., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Hawley, James P., editor. edt http://id.loc.gov/vocabulary/relators/edt Kamath, Shyam J., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Kamath, Shyam J., editor. edt http://id.loc.gov/vocabulary/relators/edt Knight, Eric R. W., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Kok, Nils, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Lydenberg, Steve, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Mark, Robert, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Sheehan, Kym, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Taub, Jennifer S., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Williams, Andrew T., contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Williams, Andrew T., editor. edt http://id.loc.gov/vocabulary/relators/edt Woods, Claire, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Yonder, Erkan, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Title is part of eBook package: De Gruyter Penn Press eBook Package Complete Collection 9783110413458 Title is part of eBook package: De Gruyter Penn Press eBook Package Social Sciences 9783110413618 Title is part of eBook package: De Gruyter University of Pennsylvania Backlist eBook-Package 2000-2013 9783110459548 print 9780812243147 https://doi.org/10.9783/9780812204643 https://www.degruyter.com/isbn/9780812204643 Cover https://www.degruyter.com/document/cover/isbn/9780812204643/original |
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Augar, Philip, Augar, Philip, Dixon, Adam D., Dixon, Adam D., Dravis, Bruce, Dravis, Bruce, Eichholtz, Piet, Eichholtz, Piet, Hawley, James P., Hawley, James P., Hawley, James P., Hawley, James P., Kamath, Shyam J., Kamath, Shyam J., Kamath, Shyam J., Kamath, Shyam J., Knight, Eric R. W., Knight, Eric R. W., Kok, Nils, Kok, Nils, Lydenberg, Steve, Lydenberg, Steve, Mark, Robert, Mark, Robert, Sheehan, Kym, Sheehan, Kym, Taub, Jennifer S., Taub, Jennifer S., Williams, Andrew T., Williams, Andrew T., Williams, Andrew T., Williams, Andrew T., Woods, Claire, Woods, Claire, Yonder, Erkan, Yonder, Erkan, |
author_facet |
Augar, Philip, Augar, Philip, Dixon, Adam D., Dixon, Adam D., Dravis, Bruce, Dravis, Bruce, Eichholtz, Piet, Eichholtz, Piet, Hawley, James P., Hawley, James P., Hawley, James P., Hawley, James P., Kamath, Shyam J., Kamath, Shyam J., Kamath, Shyam J., Kamath, Shyam J., Knight, Eric R. W., Knight, Eric R. W., Kok, Nils, Kok, Nils, Lydenberg, Steve, Lydenberg, Steve, Mark, Robert, Mark, Robert, Sheehan, Kym, Sheehan, Kym, Taub, Jennifer S., Taub, Jennifer S., Williams, Andrew T., Williams, Andrew T., Williams, Andrew T., Williams, Andrew T., Woods, Claire, Woods, Claire, Yonder, Erkan, Yonder, Erkan, |
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Augar, Philip, |
title |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / |
spellingShingle |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / Frontmatter -- Contents -- Chapter 1. Introduction -- Chapter 2. Beyond Risk: Notes Toward a Responsible Investment Theory -- Chapter 3. The Quality of Corporate Governance Within Financial Firms in Stressed Markets -- Chapter 4. Chasing Alpha: An Ideological Explanation of the Catastrophic Failure in the U.K.'s Financial Services Industry -- Chapter 5. Corporate Governance, Risk Analysis, and the Financial Crisis: Did Universal Owners Contribute to the Crisis? -- Chapter 6. Great Expectations: Institutional Investors, Executive Remuneration, and ''Say on Pay'' -- Chapter 7. Against Stupidity, the Gods Themselves Contend in Vain: The Limits of Corporate Governance in Dealing with Asset Bubbles -- Chapter 8. Real Estate, Governance, and the Global Economic Crisis -- Chapter 9. The Sophisticated Investor and the Global Financial Crisis -- Chapter 10. The Role of Investment Consultants in Transforming Pension Fund Decision Making: The Integration of Environmental, Social, and Governance Considerations into Corporate Valuation -- Chapter 11. Funding Climate Change: How Pension Fund Fiduciary Duty Masks Trustee Inertia and Short-Termism -- Notes -- List of Contributors -- Index -- Acknowledgments |
title_sub |
The Role of Institutional Investors in the Global Financial Crisis / |
title_full |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / ed. by James P. Hawley, Andrew T. Williams, Shyam J. Kamath. |
title_fullStr |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / ed. by James P. Hawley, Andrew T. Williams, Shyam J. Kamath. |
title_full_unstemmed |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / ed. by James P. Hawley, Andrew T. Williams, Shyam J. Kamath. |
title_auth |
Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / |
title_alt |
Frontmatter -- Contents -- Chapter 1. Introduction -- Chapter 2. Beyond Risk: Notes Toward a Responsible Investment Theory -- Chapter 3. The Quality of Corporate Governance Within Financial Firms in Stressed Markets -- Chapter 4. Chasing Alpha: An Ideological Explanation of the Catastrophic Failure in the U.K.'s Financial Services Industry -- Chapter 5. Corporate Governance, Risk Analysis, and the Financial Crisis: Did Universal Owners Contribute to the Crisis? -- Chapter 6. Great Expectations: Institutional Investors, Executive Remuneration, and ''Say on Pay'' -- Chapter 7. Against Stupidity, the Gods Themselves Contend in Vain: The Limits of Corporate Governance in Dealing with Asset Bubbles -- Chapter 8. Real Estate, Governance, and the Global Economic Crisis -- Chapter 9. The Sophisticated Investor and the Global Financial Crisis -- Chapter 10. The Role of Investment Consultants in Transforming Pension Fund Decision Making: The Integration of Environmental, Social, and Governance Considerations into Corporate Valuation -- Chapter 11. Funding Climate Change: How Pension Fund Fiduciary Duty Masks Trustee Inertia and Short-Termism -- Notes -- List of Contributors -- Index -- Acknowledgments |
title_new |
Corporate Governance Failures : |
title_sort |
corporate governance failures : the role of institutional investors in the global financial crisis / |
publisher |
University of Pennsylvania Press, |
publishDate |
2011 |
physical |
1 online resource (352 p.) : 22 illus. Issued also in print. |
contents |
Frontmatter -- Contents -- Chapter 1. Introduction -- Chapter 2. Beyond Risk: Notes Toward a Responsible Investment Theory -- Chapter 3. The Quality of Corporate Governance Within Financial Firms in Stressed Markets -- Chapter 4. Chasing Alpha: An Ideological Explanation of the Catastrophic Failure in the U.K.'s Financial Services Industry -- Chapter 5. Corporate Governance, Risk Analysis, and the Financial Crisis: Did Universal Owners Contribute to the Crisis? -- Chapter 6. Great Expectations: Institutional Investors, Executive Remuneration, and ''Say on Pay'' -- Chapter 7. Against Stupidity, the Gods Themselves Contend in Vain: The Limits of Corporate Governance in Dealing with Asset Bubbles -- Chapter 8. Real Estate, Governance, and the Global Economic Crisis -- Chapter 9. The Sophisticated Investor and the Global Financial Crisis -- Chapter 10. The Role of Investment Consultants in Transforming Pension Fund Decision Making: The Integration of Environmental, Social, and Governance Considerations into Corporate Valuation -- Chapter 11. Funding Climate Change: How Pension Fund Fiduciary Duty Masks Trustee Inertia and Short-Termism -- Notes -- List of Contributors -- Index -- Acknowledgments |
isbn |
9780812204643 9783110413458 9783110413618 9783110459548 9780812243147 |
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H - Social Science |
callnumber-subject |
HB - Economic Theory and Demography |
callnumber-label |
HB3722 |
callnumber-sort |
HB 43722 C696 42011EB |
genre_facet |
Congresses. |
url |
https://doi.org/10.9783/9780812204643 https://www.degruyter.com/isbn/9780812204643 https://www.degruyter.com/document/cover/isbn/9780812204643/original |
illustrated |
Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
330 - Economics |
dewey-full |
330.9/0511 |
dewey-sort |
3330.9 3511 |
dewey-raw |
330.9/0511 |
dewey-search |
330.9/0511 |
doi_str_mv |
10.9783/9780812204643 |
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793012543 |
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Corporate Governance Failures : The Role of Institutional Investors in the Global Financial Crisis / |
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Corporate Governance Failures reveals how these organizations exposed themselves and their clientele to extremely complex financial instruments, such as credit default swaps, through investments in hedge and private equity funds as well as more traditional equity investments in large financial institutions. The book's contributors critique fund executives for tolerating the "pursuit of alpha" culture that led managers to pursue risky financial strategies in hopes of outperforming the market. The volume also points out how and why institutional investors failed to effectively monitor such volatile investments, ignoring relatively well-established corporate governance principles and best practices.Along with detailed investigations of institutional investor missteps, Corporate Governance Failures offers nuanced and realistic proposals to mitigate future financial pitfalls. This volume provides fresh perspectives on ways institutional investors can best act as gatekeepers and promote responsible investment.</subfield></datafield><datafield tag="530" ind1=" " ind2=" "><subfield code="a">Issued also in print.</subfield></datafield><datafield tag="538" ind1=" " ind2=" "><subfield code="a">Mode of access: Internet via World Wide Web.</subfield></datafield><datafield tag="546" ind1=" " ind2=" "><subfield code="a">In English.</subfield></datafield><datafield tag="588" ind1="0" ind2=" "><subfield code="a">Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2022)</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Corporate governance -- Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Corporate governance</subfield><subfield code="v">Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Financial risk -- Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Financial risk</subfield><subfield code="v">Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Global Financial Crisis, 2008-2009 -- Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Global Financial Crisis, 2008-2009</subfield><subfield code="v">Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Institutional investments -- Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Institutional investments</subfield><subfield code="v">Congresses.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Political Science.</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS / Investments & Securities / General.</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Business.</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Economics.</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Political Science.</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Public Policy.</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Augar, Philip, </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Dixon, Adam D., </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Dravis, Bruce, </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Eichholtz, Piet, </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Hawley, James P., </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Hawley, James P., </subfield><subfield code="e">editor.</subfield><subfield code="4">edt</subfield><subfield code="4">http://id.loc.gov/vocabulary/relators/edt</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Kamath, Shyam J., </subfield><subfield code="e">contributor.</subfield><subfield code="4">ctb</subfield><subfield code="4">https://id.loc.gov/vocabulary/relators/ctb</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Kamath, Shyam J., </subfield><subfield code="e">editor.</subfield><subfield code="4">edt</subfield><subfield code="4">http://id.loc.gov/vocabulary/relators/edt</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Knight, Eric R. 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