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Copyright 2013 For Consideration: Con’t Shleifer & Vishney: “A Survey of Corporate Governance”* How do suppliers of finance control managers? Corporate governance?
Is the test of the the system whether corporations continue to attract needed capital in timely fashion?
Passing Test: Savings and Loan
One decision stocks (NiftyFifty) + 197374
Stock Fraud – 1929; 1987; 1990s or 2000s
Shleifer & USSR
Copyright 2013 Thoughts on the ‘Contract’ between Financiers & Managers “Viewing the Agency Problem” – Why will banks lend unsecured?
– Old Banker “People pay back loans not balance sheets.”
– Limits to Excess Can we regulate: inefficiency
diversion of resources
Copyright 2013 Con’t Understanding the use and abuse of managerial power
– Ego, focused and directed, is an asset?
– Ego, uncontrolled, is a liability? Golden Parachutes
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- Winter '14
- Golden parachute, legal concept, Golden handshake