Corporate Scandals

Paper Summary:

The paper explains that the problem with solving current corporate governance and the severe rights abuses that have led to countless victims, is that it is extremely hard to pinpoint who is responsible. The paper relates that each corporation harbors hundreds, thousands and even hundreds of thousands of employees, managers and executives. The paper shows how neither the government or social movements can change the long-term culture of corporations by themselves. The paper contends that the only way to hold a corporation responsible is to impact and change the mentalities of each and every individual working within the corporate domain.

From the Paper:

"When discussing the issue of corporate restrictions, most turn their heads to the government for guidance. Most people believe that only at the federal and Supreme Court level, can true policy reform affect corporations and change their entire perspective on rights abuses. The problem however, is that the federal government is highly ineffective in restricting corporations and checking their rights abuses. Federal laws, and Supreme Court rulings take years to formulate, and they only formulate as a result of reactive measures. In other words, the highest levels of the American government will only act, after an infringement by corporations occurs. An apt example comes in the case of the Enron and WorldCom scandal."

Sample of Sources Used:

• Pound, John The Promise of the Governed Corporation, Harvard Business Review, March-April, 1995, pp. 89-98.
• Pozen, Robert C. Institutional Investors: The Reluctant Activists, Harvard Business Review, January-February 1994, pp. 140-149.
• Roe, Mark J. A Political Theory of American Corporate Finance, Volume 91:10, Columbia Law Review, pp. 10-67
• Shinn, James, Nitwits in Pinstripes vs. Barbarians at the Gate, September 2000
• Thompson, Tracy A. and Gerald F. Davis. The Politics of Corporate Control and the Future of Shareholder Activism in the United States, Corporate Governance: An International Review, July 1997.

More papers on Corporate Scandals:

• Essay # 35510 : "Corporate Scandals"
• Term Paper # 147757 : "Corporate Ethics and the Age of Scandal"
• Term Paper # 107856 : "Corporate Malfeasance"

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