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The Role of Government in Corporate Governance
Cary Coglianese University of Pennsylvania Law School Thomas J. Healey Harvard University - John F. Kennedy School of Government Elizabeth K. Keating Harvard University - John F. Kennedy School of Government Michael L. Michael Harvard University - John F. Kennedy School of Government New York University Journal of Law and Business, Vol. 1, p. 219, 2004 KSG Working Paper No. RWP04-045 Abstract: Numerous corporate scandals in the past several years have fueled widespread debate over proposals for government action. The central challenge for government is how to restore corporate integrity and market confidence without overreacting and stifling the dynamism that underlies a strong economy. To examine this challenge, the Center for Business and Government's Regulatory Policy Program organized a conference in May 2004 on The Role of Government in Corporate Governance. The conference brought together government officials, business leaders, and academic researchers to discuss three fundamental public policy issues raised by recent corporate abuses. First, who should regulate corporate management - government agencies or self-regulatory organizations? Second, how should regulatory commands be designed, either as detailed rules or broad principles? Finally, how should regulations be enforced? This report synthesizes the conference dialogue organized around these three questions and explores conditions under which different configurations of regulatory institutions, standards, and enforcement practices can further both corporate integrity and productivity. Posted paper, uploaded January 2010, is the published version of the working paper originally posted November 2004.
Keywords: corporate governance, financial regulation, self-regulation, regulatory enforcement JEL Classifications: G34, G38, K22, M49 Working Paper SeriesDate posted: November 02, 2004 ; Last revised: January 17, 2010Suggested CitationContact Information
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