Corporate Governance at the Crossroads: A Book of Readings Book

	Foreword
1	Value maximization, stakeholder theory, and the corporate objective function	7
2	The modern industrial revolution, exit, and the failure of internal control systems	21
3	Is American corporate governance fatally flawed?	41
4	The political roots of American corporate finance	49
5	International corporate differences : markets or law?	64
6	The state of U.S. corporate governance : what's right and what's wrong?	71
7	The nature of man	87
8	Corporate governance, ethics, and organizational architecture	103
9	Incentives, rationality, and society	115
10	Self-interest, altruism, incentives, and agency theory	124
11	Baylor University roundtable on integrity in financial reporting	130
12	The director's new clothes (or, the myth of corporate accountability)	151
13	Continental Bank roundtable on the role of corporate boards in the 1990s
14	The active board of directors and its effect on the performance of the large publicly traded corporation	177
15	CEO incentives : it's not how much you pay, but how	192
16	The case for expensing stock options against earnings	206
17	Has pay for performance gone awry? : views from a corporate governance forum	209
18	Golf tournaments and CEO pay : unraveling the mysteries of executive compensation	219
19	Option-based compensation : panacea or Pandora's box?	232
20	Twelve ways to strengthen your incentive plan	246
21	Evidence on EVA	257
22	Six challenges in designing equity-based pay	268
23	The CEO : a visible hand in wealth creation?	283
24	Decentralization, incentives, and value creation : the case of JLG Industries	298
25	Adding value for shareholders in South Africa : an analysis of the Rembrandt restructuring	309
26	Leveraged recaps and the curbing of corporate overinvestment	318
27	Performance, leverage, and ownership structure in reverse LBOs	330
28	The growth of institutional stock ownership : a promise unfulfilled	347
29	Corporate ownership and control in the U.K., Germany, and France	360
30	Large bank stockholders in Germany : saviors or substitutes?
31	Takeovers, management replacement, and post-acquisition operating performance : some evidence from the 1980s	385
32	The corporate restructuring of the 1980s - and its import for the 1990s	395
33	Recent developments in German capital markets and corporate governance	410
34	Corporate governance in an emerging market : the case of Israel	424
35	Evidence that greater disclosure lowers the cost of equity capital	437
36	R&D and capital markets	447
37	Goodwill accounting : everything has changed and nothing has changed	462
38	How to fix accounting : measure and report economic profit	472
39	Accounting doesn't need fixing (just some reinterpreting)	492
40	Just say not to Wall Street : putting a stop to the earnings game	506