Corporate Governance Failures

Legal and financial practitioners and researchers investigate the role of institutional investors in the corporate governance failures that contributed to the recent global financial crisis. The authors also offer proposals to mitigate future pitfalls. This volume covers alternative financial investments, systemic risk, and responsible investment.

Corporate Governance Failures
The Role of Institutional Investors in the Global Financial Crisis

Edited by James P. Hawley, Shyam J. Kamath, and Andrew T. Williams

2011 | 352 pages | Cloth $69.95
Business | Public Policy
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Table of Contents

1 Introduction
—James P. Hawley, Shyam J. Kamath, and Andrew T. Williams
2 Beyond Risk: Notes Toward a Responsible Investment Theory
—Steve Lydenberg
3 The Quality of Corporate Governance Within Financial Firms in Stressed Markets
—Robert Mark
4 Chasing Alpha: An Ideological Explanation of the Catastrophic Failure in the U.K.'s Financial Services Industry
—Philip Augar
5 Corporate Governance, Risk Analysis, and the Financial Crisis: Did Universal Owners Contribute to the Crisis?
—James P. Hawley
6 Great Expectations: Institutional Investors, Executive Remuneration, and ''Say on Pay''
—Kym Sheehan
7 Against Stupidity, the Gods Themselves Contend in Vain: The Limits of Corporate Governance in Dealing with Asset Bubbles
—Bruce Dravis
8 Real Estate, Governance, and the Global Economic Crisis
—Piet Eichholtz, Nils Kok, and Erkan Yonder
9 The Sophisticated Investor and the Global Financial Crisis
—Jennifer S. Taub
10 The Role of Investment Consultants in Transforming Pension Fund Decision Making: The Integration of Environmental, Social, and Governance Considerations into Corporate Valuation
—Eric R. W. Knight and Adam D. Dixon
11 Funding Climate Change: How Pension Fund Fiduciary Duty Masks Trustee Inertia and Short-Termism
—Claire Woods

Notes
List of Contributors
Index
Acknowledgments