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Corporate Liability for Insider Trading (The Law of Financial Crime)
by Juliette OverlandCorporate Liability for Insider Trading examines the reasons why there have been no successful criminal prosecutions, or successful contested civil proceedings, against corporations for insider trading, and analyses the various rationales for prohibiting insider trading. It reviews the insider trading regulatory regime and describes its key features, using both national and international examples. The book inspects a variety of criminal and civil models of corporate liability and considers the historical and theoretical basis on which corporations are subject to insider trading laws. The specific elements of the insider trading offence and the manner in which they are attributed to corporations are analysed in detail. Defences available to corporations such as Chinese Walls are explored, and the obligations that are imposed on businesses as a result of insider trading regulation – security trading policies and notifications, continuous disclosure obligations, and duties concerning conflicts of interest – are detailed and examined. The book concludes with reform proposals intended to remedy the many legal and commercial difficulties identified, in order that a new regulatory regime might be adopted to better serve regulators, businesses, investors, and the broader market. This volume addresses these corporate law topics and will be of interest to researchers, academics, financial institution compliance officers, investment bankers, corporate and comparative lawyers, and students and scholars in the fields of commercial law, corporate law, financial crime, company law, and white collar crime
Corporate Liability for Insider Trading (The Law of Financial Crime)
by Juliette OverlandCorporate Liability for Insider Trading examines the reasons why there have been no successful criminal prosecutions, or successful contested civil proceedings, against corporations for insider trading, and analyses the various rationales for prohibiting insider trading. It reviews the insider trading regulatory regime and describes its key features, using both national and international examples. The book inspects a variety of criminal and civil models of corporate liability and considers the historical and theoretical basis on which corporations are subject to insider trading laws. The specific elements of the insider trading offence and the manner in which they are attributed to corporations are analysed in detail. Defences available to corporations such as Chinese Walls are explored, and the obligations that are imposed on businesses as a result of insider trading regulation – security trading policies and notifications, continuous disclosure obligations, and duties concerning conflicts of interest – are detailed and examined. The book concludes with reform proposals intended to remedy the many legal and commercial difficulties identified, in order that a new regulatory regime might be adopted to better serve regulators, businesses, investors, and the broader market. This volume addresses these corporate law topics and will be of interest to researchers, academics, financial institution compliance officers, investment bankers, corporate and comparative lawyers, and students and scholars in the fields of commercial law, corporate law, financial crime, company law, and white collar crime
Corporate Liability for Transboundary Environmental Harm: An International and Transnational Perspective
by Peter Gailhofer David Krebs Alexander Proelss Kirsten Schmalenbach Roda VerheyenThis open access book aims to elaborate on the legal prerequisites to establish the liability of corporations for transboundary environmental harm, not only by identifying existing liability rules, principles and standards but also by analysing their potential for further legal development. The authors consider international and transboundary liability law to currently be an underutilised tool for international environmental protection. The book seeks to address this by exploring what is needed in terms of legislative action and identifying options for judicial pliability, thereby providing an important legal contribution in furthering the development of an effective international and transnational environmental liability law regime.
Corporate Manslaughter and Regulatory Reform (Crime Prevention and Security Management)
by P. AlmondThis book provides an account of the international emergence of corporate manslaughter offences to criminalise deaths in the workplace during the last twenty years, identifying the limitations of health and safety regulation that have prompted this development.
Corporate Manslaughter in the Maritime and Aviation Industries (Lloyd's Practical Shipping Guides)
by Simon DanielsThis book provides expert analysis of the application of the evolving law in Corporate Manslaughter as it relates to the Maritime and Aviation industries. It will prove to be a useful tool for practitioners and students in this specialised area, as well as those working in the maritime and aviation industries, such as those who will be accountable under the Corporate Manslaughter Act 2007; the Masters and Pilots who manage the risks; and the insurers who underwrite the cost of the risks. The author will discuss areas such as: The liability towards passengers and employees The Prosecution of offenders Comparative analysis of corporate manslaughter in the wider, global industry
Corporate Manslaughter in the Maritime and Aviation Industries (Lloyd's Practical Shipping Guides)
by Simon DanielsThis book provides expert analysis of the application of the evolving law in Corporate Manslaughter as it relates to the Maritime and Aviation industries. It will prove to be a useful tool for practitioners and students in this specialised area, as well as those working in the maritime and aviation industries, such as those who will be accountable under the Corporate Manslaughter Act 2007; the Masters and Pilots who manage the risks; and the insurers who underwrite the cost of the risks. The author will discuss areas such as: The liability towards passengers and employees The Prosecution of offenders Comparative analysis of corporate manslaughter in the wider, global industry
The Corporate Objective (PDF)
by Andrew R. Keay Andrew KeayThe Corporate Objective addresses a question that has been subject to much debate: what should be the objective of public corporations? It examines the two dominant theories that address this issue, the shareholder primacy and stakeholder theories, and finds that both have serious shortcomings. The book goes on to develop a new theory, called the Entity Maximisation and Sustainability Model. Under this model, directors are to endeavour to increase the overall long-run market value of the corporation as an entity. At the same time as maximising wealth, directors have to ensure that the corporation survives and is able to stay afloat and pursue the development of the corporation's position. Andrew Keay seeks to explain and justify the model and discusses how the model is enforced, how investors fit into the model, how directors are to act and how profits are to be allocated. Analysing in depth the existing theories which seek to explain the corporate objective, this book will appeal to academics in corporate law and corporate governance as well as law, finance, business ethics, organisational behaviour, management, economics, accounting and sociology. Postgraduate students in corporate law and corporate governance, directors, and government regulators will also find much to interest them in this study.
Corporate Obligations under International Law (Oxford Monographs in International Law)
by Markos KaraviasThis book examines the extent to which international law places obligations directly on corporate entities. It is often argued that corporations are bound by, inter alia, the same human rights and environmental obligations that states have. This book examines the source of these supposed obligations in treaty law, international custom, and in internationalized contracts, to determine whether they really can be transposed to corporations so easily. The focus of the book is on the regulation by international law of private corporate conduct. It examines whether corporate obligations, namely obligations binding directly upon a corporation under positive international law, have indeed emerged, and if so, whether corporations may be systemically included in the predominantly state-centric framework of international law. It investigates the challenges facing international law as a result of the potential emergence of corporate obligations, and engages in a structural analysis of what corporate obligations under international human rights law might entail. Ultimately, it warns against conceptualizing corporations as both holders and potential violators of human rights, explaining why they are not automatically bound by the same obligations that are imposed on states.
The Corporate Paradox: Economic Realities of the Corporate Form of Organization
by Wouter H.F.M. CortenraadThe `corporation' is by far the most successful legal concept of organization among large business firms. Yet there are numerous examples of firms operated in corporate form that were troubled either by internal problems arising from divergences of interests between the firm's various constituents (notably, managers and investors), or by conflicts with other members of society (including both victims of accidents or environmental pollution caused by the firm and unpaid creditors in the event of business failure). It is this paradox between the corporation's prima facie success and its apparent ambiguity in other respects that is examined in this book. Using modern economic theory concerning the functioning of markets and organizations, The Corporate Paradox examines how the concept of the corporation relates to the economic entity it organizes and in effect, how it may affect the use that firms make of society's valuable but scarce resources. To this end, both the economic rationales underlying the corporate form of organization and its effects on organizational and individual behavior are reviewed, with special emphasis on the separation between `ownership' and `control' and the principle of limited liability of shareholders, two features which are typical of the corporate concept. Finally, this book surveys, from a predominantly economic perspective, legal remedies that United States and Dutch law have developed in response to certain inefficiencies to which these features may give rise.
Corporate Personality in the 20th Century
by Ross Grantham C.E.F. RickettThe decision of the House of Lords in Salomon v. Salomon & Co Ltd has had lasting influence on the development of modern company law. This one hundred year old decision articulated the founding propositions of company law and is accordingly treated with reverence by academics and practitioners alike. The centenary of the case therefore affords a convenient opportunity to review these developments in company law. In doing so,the contributors to this volume range broadly across the modern approaches to company law and attempt to place key aspects of the subject in a theoretical and historical perspective and to lay bare the structural, theoretical and policy issues which lie behind its day-to-day technicalities.
Corporate Political Responsibility: How Businesses Can Strengthen Democracy for Mutual Benefit (Future of Business and Finance)
by Johannes BohnenThis book demonstrates how companies can effectively promote their business by assuming political responsibility and expanding their investment concept to include a political component. It shows that the success of companies is crucially dependent on socio-political conditions. In other words: politically sustainable management is a business case. Therefore companies should take a closer look at the opportunities at the interface of politics and business.To date, there has not been a satisfactory assessment of the issue of Corporate Political Responsibility (CPR), which combines a conceptual framework with practical measures for implementation. This book remedies that oversight, and shows how companies can develop the necessary attitude and operate in concrete CPR fields of action, illustrated by diagrams and examples. While doing so, the author explains how CPR is different from shere lobbying or Corporate Social Responsibility (CSR).The author provides an overview of the public realm and its actors, and shows how, through political contributions, they can strengthen the performance of the state and thus their own performance. Companies have unique resources for doing so, and in their own interest they should get involved: being impartial in particular, but partial in principle - when it comes to our liberal way of life as such.
Corporate Political Responsibility: Wie Unternehmen die Demokratie und damit sich selbst stärken (Future Of Business And Finance Ser.)
by Johannes BohnenUnternehmen fördern ihr Geschäft, wenn sie politische Verantwortung übernehmen Unternehmen müssen sich stärker mit den Chancen an den Schnittstellen von Politik und Wirtschaft beschäftigen, denn ihr Geschäftserfolg ist maßgeblich von gesellschaftspolitischen Voraussetzungen abhängig. Mit anderen Worten: Politisch nachhaltige Unternehmensführung ist ein Business Case. Bislang gibt es noch keinen hinreichenden Zugang zu dem Thema der politischen Verantwortung von Unternehmen, der einen konzeptionellen Rahmen mit der praktischen Umsetzung verbindet. Diese Lücke wird nun geschlossen: In diesem Fachbuch erfahren Sie, illustriert durch Schaubilder und Beispiele, wie Unternehmen die notwendige Haltung entwickeln und in konkreten CPR-Handlungsfeldern tätig werden können. Der Autor liefert eine Bestandsaufnahme des öffentlichen Raumes mit seinen Akteuren und zeigt, wie sie durch politische Beiträge die Leistungsfähigkeit des Staates und damit sich selbst stärken können. Unternehmen verfügen dazu über besondere Ressourcen. In ihrem eigenen Interesse sollten sie sich einmischen: unparteiisch im Besonderen, aber parteiisch im Grundsätzlichen – dann, wenn es um unsere freiheitliche Lebensform als solche geht. In drei Buchteilen wird ein umfassendes Corporate Political Responsibility-Konzept vorgestellt: Teil I thematisiert im Sinne einer Bestandsaufnahme den öffentlichen Raum mit seinen wichtigsten Akteuren und dem permanenten Kampf um Deutungshoheit, insbesondere die belastete Beziehung von Wirtschaft und Politik. In den darauffolgenden Teilen steht im Mittelpunkt, wie Unternehmen auf die skizzierten Herausforderungen reagieren können.Verstehen: Wie der öffentliche Raum funktioniertGestalten: Den öffentlichen Raum neu belebenDer öffentliche Raum und seine AkteureDas Governance-Konzept Teil II stellt das CPR-Konzept vor. Hier geht es vor allem um die These, dass es im wirtschaftlichen Interesse von Unternehmen liegt, mit einer neuen gesellschaftspolitischen Haltung und entsprechenden Beiträgen die Leistungsfähigkeit des Staates zu erhöhen. Unternehmen benötigen eine politische Haltung: Corporate Political ResponsibilityGesellschaftliche VerantwortungskonzepteCPR als Business Case – der strategische Mehrwert Teil III widmet sich dann der praktischen Umsetzung von CPR, dem „Political Branding“. Es werden konkrete Handlungsfelder skizziert und Fallbeispiele aufgeführt, die anschaulich zeigen, was politische Markenführung bedeutet. CPR richtig anwenden: Political BrandingPolitische MarkenführungPolitische Markenführung: CPR und LeadershipDie CPR-HandlungsfelderDie Planung von CPR-Maßnahmen Zielgruppe dieses Buches sind primär Entscheider der Wirtschaft (mit ihren CSR-, Strategie- und Kommunikationsabteilungen) sowie Vertreter aus Politik und Verwaltung, aber auch Akteure aus Wissenschaft, Kultur, Medien, Rechtswesen, NGOs, Stiftungen und Kommunikations- bzw. Public Affairs-Beratungen.
Corporate Power and Human Rights
by Manette Kaisershot Nicholas ConnollyThere is ample evidence about the negative effects business activity of all types can have on the provision of human rights. Equally, there can be little doubt economic development, usually driven through business activity and trade, is necessary for any state to provide the institutions and infrastructure necessary to secure and provide human rights for their citizens. The United Nations and businesses recognise this tension and are collaborating to effect change in business behaviours through voluntary initiatives such as the Global Compact and John Ruggie’s Guiding Principles. Yet voluntary approaches are evidently failing to prevent human rights violations and there are few alternatives in law for affected communities to seek justice. This book seeks to robustly challenge the current status quo of business approaches to human rights in order to develop meaningful alternatives in an attempt to breech the gap between the realities of business and human rights and its discourse. This book was previously published as a special issue of the International Journal of Human Rights.
Corporate Power and Human Rights
by Manette Kaisershot and Nicholas ConnollyThere is ample evidence about the negative effects business activity of all types can have on the provision of human rights. Equally, there can be little doubt economic development, usually driven through business activity and trade, is necessary for any state to provide the institutions and infrastructure necessary to secure and provide human rights for their citizens. The United Nations and businesses recognise this tension and are collaborating to effect change in business behaviours through voluntary initiatives such as the Global Compact and John Ruggie’s Guiding Principles. Yet voluntary approaches are evidently failing to prevent human rights violations and there are few alternatives in law for affected communities to seek justice. This book seeks to robustly challenge the current status quo of business approaches to human rights in order to develop meaningful alternatives in an attempt to breech the gap between the realities of business and human rights and its discourse. This book was previously published as a special issue of the International Journal of Human Rights.
Corporate Power and Regulation: Consumers and the Environment in the European Union (International Series on Public Policy)
by Sandra Eckert“A novel, insightful and provocative foray into the abilities, capacities and limits of corporate power on the one hand and public power and capacities on the other hand. Eckert offers new and refine insights on core issues in the theories of public and private interest regulation.”—David Levi Faur, Hebrew University of Jerusalem, Israel“This impressive book breaks important ground in the regulatory governance literature by bringing in a fresh corporate perspective. Based on a set of fascinating case studies of European regulation, Eckert compellingly unpacks key facets of corporate power. A must-read for regulation scholars who often neglect the targets of regulation!”—Burkard Eberlein, York University, Canada“This book offers systematic and empirically fascinating insights into the regulatory power of corporations which unfolds outside the traditional political arenas. Its policy effects have important implications for the target groups of regulation, the general public, and the democratic political process as such. The conceptualization and use of rich empirical sources make for a compelling read.”—Adrienne Héritier, European University Institute, ItalyThis book takes a fresh look at corporate power in the regulatory process. It examines how corporations seek to prevent, shape, make or revoke regulation. The central argument is that in doing so, corporations utilise distinct power resources as experts, innovators and operators. By re-emphasising the proactive role of business, the book complements our acquired knowledge of policymakers’ capacity to put pressure on, or delegate power to private actors. Empirically, the book covers European consumer and environmental policies, and conducts case studies on the chemical, paper, home appliance, ICT and electricity industries. A separate chapter is dedicated to the assumption that Brexit will lead to an unprecedented result of EU regulation being lifted, and how this could put corporate power in regulation at risk. This book provides a new perspective on the policy implications of corporate power to scholars, students and practitioners alike.
Corporate Purpose, CSR, and ESG
by Jens-Hinrich Binder Klaus Hopt Thilo KuntzIn recent years, the longstanding debate between shareholder-oriented and stakeholder-oriented models of corporate governance for large listed, or "public" corporations, has experienced a resurgence. Simultaneously, a wave of new regulations has reshaped the legal landscape, compelling businesses to integrate public objectives - such as environmental protection or the social interests of specific stakeholder groups - into their decision-making processes, which were traditionally driven solely by profitability considerations. Against this background, the book brings together economic, comparative, historical, and doctrinal perspectives of scholars from US and European legal academia. The ongoing discourse regarding the fundamental role of public corporations in economies and society is vivid and rather different, across Europe, and the US. Filling a gap in comparative literature on these themes, this volume further explores commonalities across these varying legal landscapes, while remaining cognizant of distinct, cultural, legal, and economic contexts. Most strikingly, the contributions here point to the European emphasis on stakeholder-oriented regulation, in contrast to the US-American focus on shareholder value. Providing a comprehensive analysis of recent legal developments in this space, this volume serves as an essential theoretical guide to debates around corporate purpose, CSR, and ESG today.
Corporate Purpose, CSR, and ESG
by Jens-Hinrich Binder Klaus Hopt Thilo KuntzIn recent years, the longstanding debate between shareholder-oriented and stakeholder-oriented models of corporate governance for large listed, or "public" corporations, has experienced a resurgence. Simultaneously, a wave of new regulations has reshaped the legal landscape, compelling businesses to integrate public objectives - such as environmental protection or the social interests of specific stakeholder groups - into their decision-making processes, which were traditionally driven solely by profitability considerations. Against this background, the book brings together economic, comparative, historical, and doctrinal perspectives of scholars from US and European legal academia. The ongoing discourse regarding the fundamental role of public corporations in economies and society is vivid and rather different, across Europe, and the US. Filling a gap in comparative literature on these themes, this volume further explores commonalities across these varying legal landscapes, while remaining cognizant of distinct, cultural, legal, and economic contexts. Most strikingly, the contributions here point to the European emphasis on stakeholder-oriented regulation, in contrast to the US-American focus on shareholder value. Providing a comprehensive analysis of recent legal developments in this space, this volume serves as an essential theoretical guide to debates around corporate purpose, CSR, and ESG today.
Corporate Recovery in an Integrated Europe: Harmonisation, Coordination, and Judicial Cooperation
by Irene Lynch Fannon Jennifer L.L. Gant Aoife FinnertyExploring the considerable qualitative research conducted by the Judicial Cooperation in Economic Recovery (JCOERE) Project, this book provides a rich analysis of the questions surrounding the contrasting legal traditions and cultures within the European framework. Building on existing research, this book analyses the EU Directive (2019) harmonising ‘preventive restructuring’ law in a number of member states of the EU. Embodying a modern approach to business failure involving radical concepts, it examines the imposition of a stay or moratorium, the process of agreeing a compromise of existing debt through cram-down and final approval, and ultimately financing the rescued business into the future. These concepts are considered in addition to the obligations imposed on courts through EU Regulation (2015) to cooperate in cross-border litigation in insolvency generally. Chapters also provide a critical analysis of legal texts and commentary, studying the development of the Preventive Restructuring Directive (PRD) and domestic preventive restructuring processes. Critically considering the legal initiatives affecting business rescue within a broader EU legal context, this book will be an insightful read for EU policy-makers and insolvency lawyers and practitioners. Academics and researchers with an interest in European law and EU integration will also benefit from this comprehensive book.
Corporate Regulation for Climate Change Mitigation in Africa: A Case for Dilute Interventionism (Routledge Research in Sustainability and Business)
by Kikelomo O. KilaThis book critically analyses the prospects of overhauling the legal framework of climate change regulation of corporations in African state. It adopts the dilute interventionism regulatory framework to tackle the culture of regulatory resistance by corporations in Africa. Over the course of this volume, Kikelomo O. Kila critiques the climate change legal framework in all 53 African states and conducts an in-depth case study of the two largest economies in Africa – Nigeria and South Africa – to highlight the commonality of the problems in Africa and the potential for the dilute interventionism paradigm to significantly address these problems. The book establishes why African states should directly intervene through legislative mechanisms to compel corporations to incorporate climate change mitigation in their business activities. It proposes that this direct intervention should comprise a blend of prescriptive and facilitative mechanisms structured in a dilute interventionism regulatory model. Overall, this volume argues that implementing this model requires the institution of a strong and independent regulator with a veto firewall protection system that guarantees its de facto independence from government and external influences. Corporate Regulation for Climate Change Mitigation in Africa will be of great interest to climate change stakeholders at the international, regional, and domestic levels, policymakers, regulatory practitioners, and legal experts on corporate regulation. It will also be an insightful resource for students and scholars of climate change and environmental law, policy, and governance.
Corporate Regulation for Climate Change Mitigation in Africa: A Case for Dilute Interventionism (Routledge Research in Sustainability and Business)
by Kikelomo O. KilaThis book critically analyses the prospects of overhauling the legal framework of climate change regulation of corporations in African state. It adopts the dilute interventionism regulatory framework to tackle the culture of regulatory resistance by corporations in Africa. Over the course of this volume, Kikelomo O. Kila critiques the climate change legal framework in all 53 African states and conducts an in-depth case study of the two largest economies in Africa – Nigeria and South Africa – to highlight the commonality of the problems in Africa and the potential for the dilute interventionism paradigm to significantly address these problems. The book establishes why African states should directly intervene through legislative mechanisms to compel corporations to incorporate climate change mitigation in their business activities. It proposes that this direct intervention should comprise a blend of prescriptive and facilitative mechanisms structured in a dilute interventionism regulatory model. Overall, this volume argues that implementing this model requires the institution of a strong and independent regulator with a veto firewall protection system that guarantees its de facto independence from government and external influences. Corporate Regulation for Climate Change Mitigation in Africa will be of great interest to climate change stakeholders at the international, regional, and domestic levels, policymakers, regulatory practitioners, and legal experts on corporate regulation. It will also be an insightful resource for students and scholars of climate change and environmental law, policy, and governance.
Corporate Reorganization Law and Forces of Change
by Sarah PatersonCorporate Reorganisation Law argues that corporate reorganisation law is seen by market participants as a tool they can mobilise and adapt according to practices, logics, and identities in the of the financial and non-financial corporate markets. Thus changes in market practice, in the participants in the process, or in how the participants view their objectives, can significantly change the ways in which corporate reorganisation law is mobilised and adapted, even if the law has not undergone any reform. This book argues that corporate reorganisation law cannot be evaluated using a theoretical model in isolation from the wider institutional context in which corporate reorganisation law is mobilised and adapted by the participants to the process. In establishing the new methodology, the book undertakes a detailed analysis of six key changes in market practice, logic and identities in the financial and non-financial corporate fields. A comparative US/UK approach is adopted in analysing both the process of institutional change and the implications for law. This provides a fascinating lens through which to see how different institutional environments in the financial and non-financial markets in different jurisdictions are drawing together, and interacting with very different legal systems which were adapted to the distinct, original institutional environments in which they were developed. From this analysis important lessons for legal harmonisation efforts in Europe and in non-European jurisdictions are drawn out. The work emphasises the need to look at formal legal rules in combination with other, non-legal and legal institutions and argues that current reform debates in both the US and UK have suffered because scholars, practitioners, and policy makers have not started their evaluation of the case for reform by placing corporate reorganisation law in this wider institutional context. The book aims to fill this gap, and to provide a methodological approach for the future.
Corporate Reorganization Law and Forces of Change
by Sarah PatersonCorporate Reorganisation Law argues that corporate reorganisation law is seen by market participants as a tool they can mobilise and adapt according to practices, logics, and identities in the of the financial and non-financial corporate markets. Thus changes in market practice, in the participants in the process, or in how the participants view their objectives, can significantly change the ways in which corporate reorganisation law is mobilised and adapted, even if the law has not undergone any reform. This book argues that corporate reorganisation law cannot be evaluated using a theoretical model in isolation from the wider institutional context in which corporate reorganisation law is mobilised and adapted by the participants to the process. In establishing the new methodology, the book undertakes a detailed analysis of six key changes in market practice, logic and identities in the financial and non-financial corporate fields. A comparative US/UK approach is adopted in analysing both the process of institutional change and the implications for law. This provides a fascinating lens through which to see how different institutional environments in the financial and non-financial markets in different jurisdictions are drawing together, and interacting with very different legal systems which were adapted to the distinct, original institutional environments in which they were developed. From this analysis important lessons for legal harmonisation efforts in Europe and in non-European jurisdictions are drawn out. The work emphasises the need to look at formal legal rules in combination with other, non-legal and legal institutions and argues that current reform debates in both the US and UK have suffered because scholars, practitioners, and policy makers have not started their evaluation of the case for reform by placing corporate reorganisation law in this wider institutional context. The book aims to fill this gap, and to provide a methodological approach for the future.
Corporate Reputation: Managing Opportunities and Threats (Psychological and Behavioural Aspects of Risk)
by Ronald J. Burke Graeme MartinIncreasing media scrutiny, global coverage and communication via the internet means corporate reputation can be damaged quickly, and failing to successfully address challenges to corporate reputation has consequences. Companies generally suffer almost ten times the financial loss from damaged reputations than from whatever fines may be imposed. According to Ernst & Young, the investment community believes up to 50 per cent of a company's value is intangible - based mostly on corporate reputation. So recognizing potential threats, or anticipating risks, emerges as a critical organizational competence. Organizations can regain lost reputations, but recovery takes a long time. Corporate Reputation contains both academic content along with practical contributions, developed by those serving as consultants or working in organizations in the area of corporate reputation and its management or recovery. It covers: why corporate reputation matters, the increase in reputation loss, threats to corporate reputation, monitoring reputation threats online and offline, the key role of leadership in reputation recovery, and making corporate reputation immune from threats. Any book that is going to do justice to a subject that is so complex and intangible needs imagination, depth and range, and this is exactly what the contributors bring with them.
Corporate Reputation: Managing Opportunities and Threats (Psychological and Behavioural Aspects of Risk)
by Ronald J. Burke Graeme MartinIncreasing media scrutiny, global coverage and communication via the internet means corporate reputation can be damaged quickly, and failing to successfully address challenges to corporate reputation has consequences. Companies generally suffer almost ten times the financial loss from damaged reputations than from whatever fines may be imposed. According to Ernst & Young, the investment community believes up to 50 per cent of a company's value is intangible - based mostly on corporate reputation. So recognizing potential threats, or anticipating risks, emerges as a critical organizational competence. Organizations can regain lost reputations, but recovery takes a long time. Corporate Reputation contains both academic content along with practical contributions, developed by those serving as consultants or working in organizations in the area of corporate reputation and its management or recovery. It covers: why corporate reputation matters, the increase in reputation loss, threats to corporate reputation, monitoring reputation threats online and offline, the key role of leadership in reputation recovery, and making corporate reputation immune from threats. Any book that is going to do justice to a subject that is so complex and intangible needs imagination, depth and range, and this is exactly what the contributors bring with them.
Corporate Reputation and Social Activism: Strategic Interaction, Firm Behavior, and Social Welfare
by Jose Muguel Abito David Besanko Daniel DiermeierA firm's reputation is an asset that can be built or harmed over time and most companies invest in their good standing. This can be challenged or threatened by activists seeking to change the firm's behavior, especially to reduce negative externalities and other social harms that a company may be creating. The strategic interaction takes place in the realm of private politics and corporate social responsibility-perceptions and actions of the company, activists, and the public audience-rather than that of public policy, including regulation. In Corporate Reptutation and Social Activism Jose Miguel Abito, David Besanko, and Daniel Diermeier argue that harm to a firm's reputation is one of the strongest and most practical tools of contemporary corporate activism and explains the numerous campaigns as well as the response of companies. Through a straightforward dynamic model focusing on the interaction of the firm and activists, the authors show how both the firm's existing reputation and various activist tactics influence actions and outcomes of both the firm and the activists. Among their insights are that as a firm's reputation grows, it tends to coast on its reputation by reducing its private regulation, or voluntary adoption of internal rules that constrain certain company behavior. Activists can keep the firm from coasting in two ways: the firm acts more responsibly to protect its reputation in anticipation of activist campaigns, and a firm whose reputation is harmed by a campaign engages more responsibly to repair its reputation. The book explores how activists choose among potential targets and the different tactics activists can use to harm firms' reputations, including criticism, which has a potentially mild impact on the firm's reputation, confrontation, which can cause a reputational crisis in which the firm's reputation can be dramatically impaired, and rewards, which increase a firm's reputation. These can have different effects on firm behavior. The authors also examine whether campaigns by activists advance or harm social welfare. The result is a sweeping overview of an evolving and increasingly important phenomenon that combines rigorous modeling and that generates a rich set of empirical implications that will interest researchers in economics, business and management, sociology, and political science.