Entrepreneurship, Finance, Governance and Ethics

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.

Timely topics relating to law, ethics, entrepreneurship and finance in the light of recent financial crisis International perspectives and empirical data from around the world Recent research materials from leading international academics First focused work which links entrepreneurship and finance to governance and business ethics

Auteur
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.

Texte du rabat

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.

Contenu

1 Overview; Robert Cressy, Douglas Cumming and Christine Mallin.- Part I: Entrepreneurship, Venture Finance and Ethics.- 2 The Value of Country-level Perceived Ethics to Entrepreneurs 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 Law and Corruption in Venture Capital and Private Equity; Douglas Cumming, Grant Fleming, Sofia Johan and Dorra Najar.- Part II. The Impact of Regulation and Financial Structure on Ethics and Governance.- 6 The Development of the UK Alternative Investment Market : Its Growth and Governance Challenges; Chris Mallin and Kean Ow-Yong.- 7 Controlling Shareholders' Fiduciary Duties Owed to Minority Shareholders A Comparative Approach: the United States and France; Celine Gainet.- 8 Harmonized Regulatory Standards, International Distribution of Investment Funds and the Recent Financial Crisis; Douglas Cumming, Gael Imad'Eddine and Armin Schwienbacher.- 9 Active Management of Socially Responsible Portfolios; Annalisa Fabretti and Stefano Herzel.- 10 A Socially Responsible Portfolio Selection Strategy; Stefano Herzel and Marco Nicolosi.- Part III. Ethics, Fraud and Managerial Decisions.- 11 Corporate Social Responsibility Boundaries; Celine Gainet.- 12 Voluntary and Mandatory Skin in the Game: Understanding Outside Directors Stock Holdings; Sanjai Bhagat and Heather Tookes.- 13 The causes and financial consequences of corporate frauds; Stefano Bonini and Diana Boraschi-Diaz.- 14 Corporate Governance and Corporate Strategies for Climate Control and Environmental Mitigation; Raj Aggawral and Sandra Dow.- Part IV. Ethics and Governance in China.- 15 The role of Mutual Funds in Deterring Corporate Fraud in China; Wenxuan Hou Edward Lee and Konstantinos Stathopoulous.- 16 Institutional Shareholders and Executive Compensation: AnEthical View; Shujun Ding, Chunxin Jia, Yianshun Li and Zhenyu Wu.- 17 Chinese Management Buyouts and Board Transformation; Mike Wright, Yao Li and Louise Scholes.- 18 Multiple Large Shareholders and Joint Expropriation with Dividend Payments; Huaili Lv and Wanli Li.- Index.