Corporate Governance
THE CURRENT CRISIS OF INVESTOR CONFIDENCE:
CORPORATE GOVERNANCE AND THE IMBALANCE OF POWER
By
Richard L. Wise
Master’s Thesis submitted in partial fulfillment of graduation requirements of the Fletcher School of Law and Diplomacy 's Global of Master Arts Program
Copyright Richard L. Wise 2002
{K0241737.1}
TABLE OF CONTENTS
OVERVIEW ..................................................................................................................................................................... 1
ANALYSIS: DEVELOPMENT OF A MODEL ........................................................................................................... 6
1.
SYSTEMIC WEAKNESSES: ...................................................................................................................................... 6
2.
THE DYNAMICS OF POWER – THE THREE GROUPS: ............................................................................................. 11
A.
B.
3.
Dramatis Personae ........................................................................................................................................ 11
The Model ...................................................................................................................................................... 12
FORCES IMPELLING CONCEALMENT AND DISCLOSURE. ...................................................................................... 21
A.
B.
Forces Impelling Concealment ...................................................................................................................... 21
Forces Impelling Disclosure: ........................................................................................................................ 27
LESSONS LEARNED FROM CURRENT CASES .................................................................................................... 29
RECENT RECOMMENDATIONS
CORPORATE GOVERNANCE AND THE IMBALANCE OF POWER
By
Richard L. Wise
Master’s Thesis submitted in partial fulfillment of graduation requirements of the Fletcher School of Law and Diplomacy 's Global of Master Arts Program
Copyright Richard L. Wise 2002
{K0241737.1}
TABLE OF CONTENTS
OVERVIEW ..................................................................................................................................................................... 1
ANALYSIS: DEVELOPMENT OF A MODEL ........................................................................................................... 6
1.
SYSTEMIC WEAKNESSES: ...................................................................................................................................... 6
2.
THE DYNAMICS OF POWER – THE THREE GROUPS: ............................................................................................. 11
A.
B.
3.
Dramatis Personae ........................................................................................................................................ 11
The Model ...................................................................................................................................................... 12
FORCES IMPELLING CONCEALMENT AND DISCLOSURE. ...................................................................................... 21
A.
B.
Forces Impelling Concealment ...................................................................................................................... 21
Forces Impelling Disclosure: ........................................................................................................................ 27
LESSONS LEARNED FROM CURRENT CASES .................................................................................................... 29
RECENT RECOMMENDATIONS
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