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Corporate governance constitutes the internal and external institutions, markets, policies, and processes designed to help companies maximize their efficiency and value. In this collection of classic and current articles from the Journal of Applied Corporate Finance, thought leaders such as Michael Jensen and Robert Monks discuss the corporate mission of value maximization and the accomplishments and limitations of U.S. governance in achieving that end. They address the elements driving corporate value: the board of directors, compensation for CEOs and other employees, incentives and organizational structure, external ownership and control, role of markets, and financial reporting. They evaluate best practice methods, challenges in designing equity plans, the controversy over executive compensation, the values of decentralization, identifying and attracting the "right" investors, the evolution of shareholder activism, creating value through mergers and acquisitions, and the benefits of just saying no to Wall Street's "earnings game." Grounded in solid research and practice, U.S. Corporate Governance is a crucial companion for navigating the world of modern finance.

U.S. Corporate Governance

Ed. by Chew, Donald / Gillan, Stuart

Series:Columbia Business School Publishing

eBook (PDF)
Publication Date:
August 2009
Copyright year:
2009
ISBN
978-0-231-51998-4
See all formats and pricing

3. U.S. Corporate Governance: Accomplishments and Failings: A Discussion with Michael Jensen and Robert Monks

Jensen, Michael / Monks, Robert

Citation Information

Michael Jensen, Robert Monks (2009). 3. U.S. Corporate Governance: Accomplishments and Failings: A Discussion with Michael Jensen and Robert Monks. U.S. Corporate Governance (pp. 48–76). https://doi.org/10.7312/chew14856-003

Book DOI: https://doi.org/10.7312/chew14856

Online ISBN: 9780231519984

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