Corporate Governance Regulation (How Poor Management Is Destroying the Global Economy) ||

**Why U.S. corporate governance regulation has lost its way, and what must be done to improve it**Modern history persuasively demonstrates the inexorable link that binds comprehensive regulation to the global economy. This important book, rather than simply recount a litany of corporate governance failures, persuasively explains __why__, despite policymakers' best intentions, regulation has failed in the modern era. An objective study intended for a diverse readership, __Corporate Governance Regulation__ unveils the underlying, root causes of regulatory failure. The result: A compelling and original analysis, broadly suited for a global audience of all backgrounds. * Written by published, subject-area experts, the authors carefully delineate how U.S. corporate governance regulation, beginning with Sarbanes Oxley, lacks an adequate rational basis, as may be attributed to a non-existent policy dialogue * The witnessed result: A conspicuous lack of regulatory efficacy, enormous costs, coupled with paltry benefits * The focus is upon reigniting a stalled, non-productive policy dialogue, by eschewing stale, overly-polemicized arguments, as needed to develop a common ground Drawing from an eclectic, analytic framework, governance experts Nicholas Vakkur and Zulma Herrera offer both the professional and global citizen alike a multi-dimensional understanding of issues critical to global economic health. Nuanced and persuasively argued, __Corporate Governance Regulation__ represents a formidable catalyst in the elusive, ongoing quest for global economic stability.Content: Chapter 1 Virtue Lost (pages 1–45): Chapter 2 An Introduction to WorldCom (pages 47–57): Chapter 3 The Enactment Process (pages 59–80): Chapter 4 CEO Perception (pages 81–96): Chapter 5 Sarbanes?Oxley's Effect on Investor Risk (pages 97–123): Chapter 6 An Audit of Sarbanes?Oxley (pages 125–147): Chapter 7 The Underlying Vision (pages 149–168): Chapter 8 The Argument for Accountability (pages 169–181): Chapter 9 Why Sarbanes?Oxley? (pages 183–204):

Praise for Corporate Governance Regulation

Nicholas Vakkur has written an excellent critique of Sarbanes-Oxley and has made a very useful contribution, correctly pointing out that Sarb-Ox requirements would not have prevented some of the staggering corporate stock market losses that preceded the adoption of those requirements, or those that have come since-in part, because they were caused by intentional management activities, not unintended and undetected failures in control. As Vakkur points out, Sarb-Ox is 'impotent in the face of managerial override.'

-Robert Grady, Chairman, New Jersey State Investment Council; Managing Partner, Cheyenne Capital Fund; former chairman, National Venture Capital Association; Lecturer in Public Management, Stanford Graduate School of Business; and member of the Management Committee, The Carlyle Group

Professor Vakkur makes a timely and vital contribution, showing how transparency can be achieved through developing an ethical climate rather than through a focus on regulation. This makes it essential reading for policymakers, students, and those in the corporate world.

-Des Laffey, Senior Lecturer, Kent Business School, UK; Co-Editor in Chief, Journal of Strategic Management Education

For those who seek to be informed about the need to change accounting . . . this is a promising and potentially valuable study addressing issues that are timely and relevant.

-Gary John Previts, E. Mandell de Windt Professor, Case Western Reserve University

This book is unique, as it seeks a restoration of the prior focus on ethical development (e.g., common within the U.S. prior to the 1950s), that trumps complex legal machinations as an efficacious means of achieving 'transparent' financial markets.

-Teresa T. Kaldor, PhD, former task manager of public sector reforms, USAID project (Manila, Philippines)

In this era of heightened regulation, we must critically analyze previous regulations to understand whether the objectives have been achieved, to improve or eliminate existing regulations, and to serve as a guide as more regulations are promulgated. Professor Vakkur's analysis provides an innovative and fresh look at whether Sarbanes-Oxley achieved its objectives of corporate transparency and accountability.

-Michael H. Messaglia, Partner, Krieg DeVault LLP

Vakkur's extensive research, valuable insights, and evaluation tools will help companies and their stakeholders.

-Timothy H. Carmon, CPA financial reporting/risk manager for a leading Fortune 500 firm

The impact of comprehensive financial regulations, properly envisaged at the global level, is not confined to the home country, write Nicholas Vakkur and Zulma Herrera. . . . A useful read for financial researchers.

-D. Murali, Deputy Editor, The Hindu Business Line

Why U.S. corporate governance regulation has lost its way, and what must be done to improve it Modern history persuasively demonstrates the inexorable link that binds comprehensive regulation to the global economy. This important book, rather than simply recount a litany of corporate governance failures, persuasively explains why , despite policymakers' best intentions, regulation has failed in the modern era. An objective study intended for a diverse readership, Corporate Governance Regulation unveils the underlying, root causes of regulatory failure. The result: A compelling and original analysis, broadly suited for a global audience of all backgrounds. Written by published, subject-area experts, the authors carefully delineate how U.S. corporate governance regulation, beginning with Sarbanes Oxley, lacks an adequate rational basis, as may be attributed to a non-existent policy dialogue The witnessed result: A conspicuous lack of regulatory efficacy, enormous costs, coupled with paltry benefits The focus is upon reigniting a stalled, non-productive policy dialogue, by eschewing stale, overly-polemicized arguments, as needed to develop a common ground Drawing from an eclectic, analytic framework, governance experts Nicholas Vakkur and Zulma Herrera offer both the professional and global citizen alike a multi-dimensional understanding of issues critical to global economic health. Nuanced and persuasively argued, Corporate Governance Regulation represents a formidable catalyst in the elusive, ongoing quest for global economic stability.Content: Chapter 1 Virtue Lost (pages 1–45): Chapter 2 An Introduction to WorldCom (pages 47–57): Chapter 3 The Enactment Process (pages 59–80): Chapter 4 CEO Perception (pages 81–96): Chapter 5 Sarbanes?Oxley's Effect on Investor Risk (pages 97–123): Chapter 6 An Audit of Sarbanes?Oxley (pages 125–147): Chapter 7 The Underlying Vision (pages 149–168): Chapter 8 The Argument for Accountability (pages 169–181): Chapter 9 Why Sarbanes?Oxley? (pages 183–204):