What does the notion of legitimacy and social contract have to do with corporate disclosure policies? Introduction In recent years‚ corporations have increasingly used their annual reports to voluntarily report information relating to their social actions‚ particularly those concerning the natural environment (Gray et al.1995). More specifically‚ corporations have been changing their disclosure policy towards the "triple bottom line reporting"‚ where in addition to economic performance‚ social
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Enron and WorldCom FIN/486 December 22‚ 2014 Enron and WorldCom In 1998‚ Waste Management executives acknowledged earnings misstatements of approximately $1.7 billion. With the help of the Arthur Anderson accounting firm‚ Waste Management shareholders lost more than $6 billion dollars (CNN‚ 2001). The Waste Management corruption ushered in a series of corporate scandals into the new millennium. Enron and WorldCom were only two of many ethical and accounting violations that prompted new legislation
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What Makes a Good Manager? I have had a total of 6 managers over the course of 21 years. By now I have a very solid idea of which qualities a good manager should possess. I have run from one extreme to the other‚ my worst manager was fired for stealing‚ and my best manager has been promoted 4 times since I last worked there‚ and is an outstanding asset to the company. The basic understanding that a manager needs to have is an objective view. This is extremely difficult to do as emotions
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Enron: The Smartest Guys in the Room A white-collar crime by definition is a crime that is committed by individuals of higher status. It is not necessarily a violent crime‚ but could be depending on the situation. An individual who works in a professional environment‚ such as the government or corporation tend to take advantage of employees and manipulate them into thinking their practices are legitimate. Some examples‚ of white-collar crimes include fraud‚ embezzlement‚ insider trading‚ and other
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Trip Winkel Finance 303 May‚ 27 2005 Dr. Namorato The Enron Scandal Enron was established in 1930 as Northern Natural Gas Company and joined with three other companies to undertake this industry. The four companies eventually began to break apart between 1941 and 1947 as a result of a public stock offering. In 1979‚ Northern Natural Gas was placed under new management when it was bought by InterNorth Inc. In 1985‚ Kenneth Lay‚ CEO of Houston Natural Gas Company devised a transaction
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Enron Scandal Enron was able to successfully engage in fraudulent financial activities due to the failures of corporate governance practices in addition to other relevant factors. This paper will briefly cover some of these issues and offer suggestions for prevent similar future malpractice. External Corporate Governance The key external governance failures in the Enron Scandal involve oversights by regulators‚ creditors‚ auditors‚ and investors at large‚ with particular focus towards Enron’s ambiguous
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Managua‚ Nicaragua Sept 28th‚ 2013 ENRON Background In 1985 Kenneth Lay merged his company‚ Houston Natural Gas‚ with Nebraska’s InterNorth to create the Enron; a company to be the biggest natural gass corporation to exist in the U.S. During the 1980’s‚ under the presidency of Ronald Raegan‚ there was a considerable lack of regulations regarding the energy markets‚ thus allowing the company to buy and sell contracts for a delivery at some time in the future. By 1990 Jeffery Skilling joined as
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Political Science 1020E Professor Nigmendra Narain Term 1 Essay: What role should religion play in government policies? By Nivedita Sen Student Number: 250589199
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WHAT ARE THE CHARACTERISTICS OF A GOOD MANAGER? The first words that come to mind when thinking about management are “plan‚ organize‚ coordinate and control” (Mintzberg 1989‚ p.9) as Henry Fayol first laid them down in 1916. These are the four things that a manager is supposed to do. In my opinion‚ they tend to generalize and describe vaguely a manager’s job. In spite of this fact‚ there are a number of characteristics that can be depicted from them. The qualities of a good manager should concern
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Enron ’s ex-role: model of ethics For the gurus of socially responsible investing‚ what lessons from a tarnished star? * * * * * * * * By Laurent Belsie‚ Staff writer of The Christian Science Monitor / March 4‚ 2002 Perhaps the ultimate irony about Enron Corp. is how it charmed ethical investors‚ even the pros‚ for so long. The Houston-based energy giant not only said the right things‚ it also invested in solar energy‚ addressed questionable labor practices
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