Entrepreneurship, Finance, Governance and Ethics

ISBN-13: 9789400738669 / Angielski / Twarda / 2012 / 458 str.

Douglas Cumming

Opis

This book covers topics that are at the intersection of business ethics and governance as they pertain to entrepreneurship and finance. It is the first focused work that links entrepreneurship and finance to governance and business ethics, rather than explore them separately. The chapters highlight with empirical data the strong interplay between ethics in organizational efficiency and financial activity, and the role of legal settings and governance in facilitating ethical standards. They discuss novel and timely topics, particularly given the recent financial crisis and discussions on regulating ethical behaviour. This book will encourage future scholars to investigate the role of law and governance in mitigating corruption and facilitating integrity in entrepreneurship and finance.

Spis treści

1 Introduction to Entrepreneurship, Governance and Ethic ; Robert Cressy, Douglas Cumming and Christine Mallin.- Part I  Entrepreneurship, Venture Finance and Ethics.-  2 The Value of Entrepreneurial Ethics Around the World; April Knill.-  3 Do private equity firms respond better to financial distress than PLCs?; Robert Cressy and Hisham Farag.-  4 Deal Structuring in Philanthropic Venture Capital Investments; Luisa Alemany and Mariarosa Scarlata.-  5  The Role of Law, Corruption and Culture in Investment Fund Manager Fees; Sofia Johan and Dorra Najar.-  6 Legal Protection, Corruption and Private Equity Returns in Asia; Douglas Cumming,Grant Fleming, Sofia Johan and Mai Ta.-  PartII  Governance, Ethics, Regulation and Financial Structure.-  7  Stock Market Regulation and News Dissemination: Evidence from an Emerging Market; Robert Cressy and Hisham Farag.-  8 Exploring the Impact of Legal Systems and Financial Structure on Corporate Responsibility; Celine Gainet.- 9 The UK Alternative Investment Market – International Applicability and Ethical Issues; Chris Mallin and Kean Ow-Yong.- 10 Harmonized Regulatory Standards, International Distribution of Investment Funds and the Recent Financial Crisis; Douglas Cumming, GaelI'madiene and Armin Schwienbacher.-  11Delegated Portfolio Management with Investment Constraints; Annalisa Fabretti,Stefano Herzel.-  12 The cost of sustainability on optimal portfolio choices; Stefano Herzel, Marco Nicolosi,Catalin Starica.-  Part III  Ethics, Fraud and Managerial Decisions.-  13 Voluntary and Mandatory Skin in the Game: Understanding Outside Directors Stock Holdings; Sanjai Bhagat and Heather Tookes.-  14 Corporate Scandals and Capital Structure;Stefano Bonini.-  15 Corporate Fraud and Managers' Behavior: Evidence from the Press; Jeffrey Cohen, Yuan Ding, CedricLesage and Herve Stolowy.-  16 Corporate Governance and Corporate Strategies for Climate Control and Environmental Mitigation; Raj Agawaral and Sandra Dow.- Part IV Ethics and Governance in China.-  17 Player and Referee Roles Held Jointly: The Effect of State Ownership on China's Regulatory Enforcement Against Fraud;Wenxuan Hou and Geoff Moore.-  18  Reactivity and Passivity after Enforcement Actions:Better Late than Never Shujun Ding, Chunxin Jia, Yianshun Li and Zhenyu Wu.-  19 Chinese Management Buyouts and Board Transformation; Yao Li, Mike Wright, Louise Scholes.-  20 Dividend Protection, Tunnelling or Joint Expropriation? An Empirical Study in China's Capital Market; Huaili Lv, Wanli Li and He Zhang.

O autorze

Douglas Cumming, CFA, PhD, JD, is an Associate Professor of Finance and Entrepreneurship and the Ontario Research Chair at the Schulich School of Business, York University. His research is primarily focused on law and finance, market surveillance, hedge funds, venture capital, private equity, and IPOs, and he has published over fifty refereed articles in leading journals. Cumming was the recipient of the 2009 Canadian Institute of Chartered Business Valuators Research Award, the 2008 Paolo Baffi Centre on Central Banking and Financial Regulation Research Award, the 2008 AIMA Canada-Hillsdale Research Award, the 2005 PWC Global Competency Research Excellence Award, and the 2004 Iddo Sarnat Annual Memorial Award for the best paper published in the Journal of Banking and Finance. He is a research associate with numerous financial and educational groups, and consults for a variety of governmental and private organizations, including Wilshire Associates. Cumming is coauthor (along with his wife, Sofia Johan) of the new book Venture Capital and Private Equity Contracting: An International Perspective.

Blurb

This book spans topics at the intersection of business ethics and governance as they pertain to entrepreneurship and finance. To the Editors’ knowledge it is the first collection of papers linking entrepreneurship and finance to governance and business ethics, rather than exploring these issues separately. The chapters identify empirically the strong interplay between ethics in organizational efficiency and financial activity, and the role of legal settings and governance in facilitating better ethical standards. The chapters explore novel and timely topics, particularly in the context of the recent financial crisis and the subsequent debate over regulating unethical behaviour. This book finally encourages future scholars to investigate the role of law and governance in mitigating corruption and fostering integrity in the fields of entrepreneurship and finance.