Table of Contents for The Recurrent Crisis in Corporate Governance

Table of Contents for

The Recurrent Crisis in Corporate Governance

List of Figures and Tables

List of Appendix Tables

List of Abbreviations

Preface

1.Introduction and Summary

2.The Current Crisis

3.The Emergence and Development of the Governance Problem

Conglomeration as an example of managerial self-interest

Other sources of accelerated change

The emergence of "new" governance, in terms of board diligence and focus, become observable?

4.The Ambivalent Results of Extant Research on the Impact of Strong Governance on Corporate Performance

5.A New Approach for Determining the Effect of Strong Governance on Corporate Performance

Metrics for board independence and professionalism

Metrics for performance

Methodology

Estimation and analysis of the governance/corporate performance relationship

The calculation of economic value added

Superior performance after a change in governance

Conclusion

6."Where Was the Board?" Share Price Collapse and the Governance Crisis of 2000-

2002

The status quo in corporate governance in the 1990s

Incremental change

The collapse of Enron and the others

The nine largest companies investigated for fraudulent financial reporting

Where was the board of directors?

A second look at management out of control

7.Proposals for Reform of Corporate Governance

New expectations for improved performance in boards of directors

Recommendations

Appendix A: Technical Implementation Issues in the Analysis of EVA™ for CalPERS-rated Companies

Appendix B: Database of EVA™ Estimates

References

Index