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Billions of dollars continue to be lost by companies and investors due to the pervasive impact of manipulative, self-serving executives. Financial scandals aren't unknown in U.S. business history, but today's growing problem of executive excesses and self-serving behavior is unprecedented in both its persistence and pervasiveness. Executives continue to plunder their companies and rip off their stockholders. This book reveals the true breadth and depth of corporate corruption—including flagrant new cases that haven't received the publicity they deserve. More important, it answers the questions that matter most: Why now? And how can we stop it? The authors identify powerful forces that cut across management, finance, the economy, politics, and even psychology. They identify rarely discussed contributing factors, such as the consulting boom, new technologies used by accounting and auditing professionals, the transformation of business schools, journalism, and the media in general. This book addresses both criminal activity and the not-quite-illegal abuses that are now endemic in the executive suite—abuses that challenge the underpinnings of capitalism. Its deep insights will help both leaders and citizens understand exactly what's happened and what is needed to stem the tide of destructive behavior.
About the Authors.
1. The Tipping Point: How Good Companies Go Bad and Executives Become Rogues.
2. American Business at Risk: Picking Up the Pieces and Looking Ahead.
3. The Stock Market and Executive Decision Making.
4. Black Boxes and Big Black Lies.
5. The Shocking Destruction of Arthur Andersen, Auditing’s Gold Standard.
6. Auditing the Public’s Auditors.
7. Directors: Why the Weak Oversight.
8. Too Silent Critics: Journalism.
9. Too Silent Critics: Academe.
10. Fees Galore.
11. How We Nearly Lost American Capitalism.
12. The Mythic CEO: Why Real Leaders Became an Endangered Species.
13. Seeking and Valuing Real Leadership.
14. We Can Do Better.
From the Authors.
Addendum: Supreme Court Overturns Arthur Andersen.