In my opinion there is lot of similarity between the working of society and the human physiology. Nervous system controls all the involuntary acts of our body. So much so even the voluntary acts are also guided by it. Someone whose nervous system is perfect his eating, drinking, sleeping, reading, writing, thinking and all other such activities are perfect. But if this one single system goes out of order it leads to wrong responses and reflexes to every stimuli. This single control mechanism as witnessed in our body can to some extent guide us to nip this rot of black money at its bud itself. If like our body all the transactions involving money or money value are made transparent and are brought directly under the control of one single governing body, then how so ever the corrupt system may be no one can dare to hoard the ill-gotten money, which is ultimately called black money.
{"title":"Good Governance Without Black Money","authors":"Bhishm Jwal Chand, S. Rawat","doi":"10.2139/SSRN.2238342","DOIUrl":"https://doi.org/10.2139/SSRN.2238342","url":null,"abstract":"In my opinion there is lot of similarity between the working of society and the human physiology. Nervous system controls all the involuntary acts of our body. So much so even the voluntary acts are also guided by it. Someone whose nervous system is perfect his eating, drinking, sleeping, reading, writing, thinking and all other such activities are perfect. But if this one single system goes out of order it leads to wrong responses and reflexes to every stimuli. This single control mechanism as witnessed in our body can to some extent guide us to nip this rot of black money at its bud itself. If like our body all the transactions involving money or money value are made transparent and are brought directly under the control of one single governing body, then how so ever the corrupt system may be no one can dare to hoard the ill-gotten money, which is ultimately called black money.","PeriodicalId":271912,"journal":{"name":"CGN: Business Practices & Ethics (Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133074670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the past twenty years, large corporate fines have been levied on U.S. businesses - in effect on the shareholders who today in the main have no meaningful say in the management of the enterprise. In many such instances, no corporate officers have been charged with a crime, and often appear only too happy to utilize corporate (shareholder) funds to pay the fines for their corporate actions. This paper explores management’s responsibilities under ‘Agency Theory,’ ‘The Honest Services (Work) Law’ and ‘The Responsible Corporate Officer Doctrine.’ The paper concludes as to whether the use of corporate funds by management in the payment of large fines has a negative impact on stock prices.
{"title":"Are Large Corporate Fines Levied on the Right Party and Do They Have Long Term Negative Consequences?","authors":"J. Nugent","doi":"10.2139/SSRN.2050093","DOIUrl":"https://doi.org/10.2139/SSRN.2050093","url":null,"abstract":"In the past twenty years, large corporate fines have been levied on U.S. businesses - in effect on the shareholders who today in the main have no meaningful say in the management of the enterprise. In many such instances, no corporate officers have been charged with a crime, and often appear only too happy to utilize corporate (shareholder) funds to pay the fines for their corporate actions. This paper explores management’s responsibilities under ‘Agency Theory,’ ‘The Honest Services (Work) Law’ and ‘The Responsible Corporate Officer Doctrine.’ The paper concludes as to whether the use of corporate funds by management in the payment of large fines has a negative impact on stock prices.","PeriodicalId":271912,"journal":{"name":"CGN: Business Practices & Ethics (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114651573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Corporate law, like all law, should be directed toward the common good. The common good requires that corporate activity be restrained, if not actively directed, by human virtue. An analysis of the corporate enterprise suggests that those corporate actors with the greatest stake in the exercise of virtue, and best positioned to influence corporate activity via the exercise of virtuous judgment, are the corporation’s officers. Thus, one of the primary objectives of corporate law should be the promotion of virtue among corporate officers. Contrary to what some might assume, the promotion of virtue among corporate officers need not entail a promulgation of “thou shalls” and “thou shall nots.” Indeed, the suggestions put forth in this Article would serve to broaden, rather than narrow, the liberty of corporate officers. This is because corporate law, as currently constituted and interpreted, works to inhibit the exercise of virtue. The need for virtue-directed corporate decision-making has been demonstrated repeatedly over the course of history, most recently by the recent financial crisis. Instead of focusing on virtue, however, the response of most policymakers and commentators has been on regulatory reform. This is unfortunate. Although regulatory reform certainly has its place, it holds limited promise of success, for a variety of important reasons. A wiser approach would focus more seriously on virtue - the force most capable of preventing a repeat of the fraud and dereliction of duty that marked the recent financial crisis (and most predecessor crises as well).
{"title":"Toward a Nexus of Virtue","authors":"Ronald J. Colombo","doi":"10.2139/SSRN.1908889","DOIUrl":"https://doi.org/10.2139/SSRN.1908889","url":null,"abstract":"Corporate law, like all law, should be directed toward the common good. The common good requires that corporate activity be restrained, if not actively directed, by human virtue. An analysis of the corporate enterprise suggests that those corporate actors with the greatest stake in the exercise of virtue, and best positioned to influence corporate activity via the exercise of virtuous judgment, are the corporation’s officers. Thus, one of the primary objectives of corporate law should be the promotion of virtue among corporate officers. Contrary to what some might assume, the promotion of virtue among corporate officers need not entail a promulgation of “thou shalls” and “thou shall nots.” Indeed, the suggestions put forth in this Article would serve to broaden, rather than narrow, the liberty of corporate officers. This is because corporate law, as currently constituted and interpreted, works to inhibit the exercise of virtue. The need for virtue-directed corporate decision-making has been demonstrated repeatedly over the course of history, most recently by the recent financial crisis. Instead of focusing on virtue, however, the response of most policymakers and commentators has been on regulatory reform. This is unfortunate. Although regulatory reform certainly has its place, it holds limited promise of success, for a variety of important reasons. A wiser approach would focus more seriously on virtue - the force most capable of preventing a repeat of the fraud and dereliction of duty that marked the recent financial crisis (and most predecessor crises as well).","PeriodicalId":271912,"journal":{"name":"CGN: Business Practices & Ethics (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114942428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Credit is indubitably one of the most important sectors in which the supply of goods and services by cooperatives has arisen. Given the importance of the role of cooperative banks in the development of other sectors and of the territories or communities in which they operate, and the economic and political power that they consequently confer on those who manage them, some of the inherent problems distinctive in general of not-for-profit organizations become critical. In particular: in the case of rapid growth beyond the original group and area, the possibility of maintaining the principles of reciprocity and participation; the role and motivations of the social entrepreneurs acting in the bank; the corporate social responsibility, which, in the case of a bank, is closely connected to how the community’s savings are employed and how investments are selected. As with other cooperative enterprises, credit can be supplied in a variety of forms with different purposes and with different positive and/or negative externalities. Evaluation of the respective advantages and disadvantages must bear in mind the different contexts in which individual banks operate, considering both theoretical aspects (potentialities) and historical ones (past and present modes of operation). These inherent problems are discussed in the first part of the work from a theoretical point of view; while in the second part the first applications and the debate that accompanied them are analysed, given their importance in determining the features of subsequent experiences. In particular, we shall show that they stem from two different interpretations of solidarity and reciprocity: the first one, theorized and, to a certain extent, realized in the Raiffeisen model, is mainly ethical in nature; the second one, typical of the Schulze Delitzsch model, is more closely tied to individual interests tempered by social responsibility.
{"title":"The Roots of Cooperative Credit from a Theoretical and Historical Perspective","authors":"S. Goglio, A. Leonardi","doi":"10.2139/ssrn.1698611","DOIUrl":"https://doi.org/10.2139/ssrn.1698611","url":null,"abstract":"Credit is indubitably one of the most important sectors in which the supply of goods and services by cooperatives has arisen. Given the importance of the role of cooperative banks in the development of other sectors and of the territories or communities in which they operate, and the economic and political power that they consequently confer on those who manage them, some of the inherent problems distinctive in general of not-for-profit organizations become critical. In particular: in the case of rapid growth beyond the original group and area, the possibility of maintaining the principles of reciprocity and participation; the role and motivations of the social entrepreneurs acting in the bank; the corporate social responsibility, which, in the case of a bank, is closely connected to how the community’s savings are employed and how investments are selected. As with other cooperative enterprises, credit can be supplied in a variety of forms with different purposes and with different positive and/or negative externalities. Evaluation of the respective advantages and disadvantages must bear in mind the different contexts in which individual banks operate, considering both theoretical aspects (potentialities) and historical ones (past and present modes of operation). These inherent problems are discussed in the first part of the work from a theoretical point of view; while in the second part the first applications and the debate that accompanied them are analysed, given their importance in determining the features of subsequent experiences. In particular, we shall show that they stem from two different interpretations of solidarity and reciprocity: the first one, theorized and, to a certain extent, realized in the Raiffeisen model, is mainly ethical in nature; the second one, typical of the Schulze Delitzsch model, is more closely tied to individual interests tempered by social responsibility.","PeriodicalId":271912,"journal":{"name":"CGN: Business Practices & Ethics (Topic)","volume":"297-301 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130816828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Albergo diffuso is a new form of hotel in which typical rooms and houses are scattered throughout different buildings within the same village, are overseen by one manager to achieve the highest hotel quality and social involvement standard. When this new business opportunity is presented without detailed informations, often confusion occurs. How can we manage the risk? The first thing to do, as shown by many experiences is describing the advantages and the obstacles, in a compete, detailed and realistic way to the interested people. The first trap to avoid is believing that basic information is enough to understand the idea of AD and the way of doing business it requires. Many detailed informations are also required. A good practice is to weigh the quantity of information based on their quality. This must be as bigger as the enterprising and tourism inexperience of interested subjects. Another best practice is managing first informations about the Albergo diffuso and the co-operative way of doing business as one of the key assets for virtuous tourism development. Acting this way allows the local community to be fully aware of the business opportunity.
{"title":"Presenting the Albergo Diffuso to the Business Community: Best Practices and Traps to Avoid for Local Institutions","authors":"M. Droli","doi":"10.2139/ssrn.1625157","DOIUrl":"https://doi.org/10.2139/ssrn.1625157","url":null,"abstract":"The Albergo diffuso is a new form of hotel in which typical rooms and houses are scattered throughout different buildings within the same village, are overseen by one manager to achieve the highest hotel quality and social involvement standard. When this new business opportunity is presented without detailed informations, often confusion occurs. How can we manage the risk? The first thing to do, as shown by many experiences is describing the advantages and the obstacles, in a compete, detailed and realistic way to the interested people. The first trap to avoid is believing that basic information is enough to understand the idea of AD and the way of doing business it requires. Many detailed informations are also required. A good practice is to weigh the quantity of information based on their quality. This must be as bigger as the enterprising and tourism inexperience of interested subjects. Another best practice is managing first informations about the Albergo diffuso and the co-operative way of doing business as one of the key assets for virtuous tourism development. Acting this way allows the local community to be fully aware of the business opportunity.","PeriodicalId":271912,"journal":{"name":"CGN: Business Practices & Ethics (Topic)","volume":"124 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122654015","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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