Chapter 2: The Emergence of the Corporation in United States

Chapters in this book

1. Frontmatter 1
2. Dedication 5
3. Praise for the Governance Revolution 7
4. About De/G PRESS 11
5. About the Author 13
6. About the Series Editor 15
7. Contents 17
8. Prologue: What Is the Governance Revolution? 27
9. Introduction 29
10. Part I: The System and How It Came To Be
11. Chapter 1: How Our Governance System Began 41
12. Chapter 2: The Emergence of the Corporation in United States 49
13. Chapter 3: Post–World War I Developments 61
14. Chapter 4: The Glow Following World War II 69
15. Chapter 5: Shifting Dynamics from 1970 to 2000 73
16. Chapter 6: Post 2000 Intensification of Focus on the Board 87
17. Part II: The Players and Capital Market Forces
18. Chapter 7: The Rise of Independent/Disinterested Directors 99
19. Chapter 8: The Rise of Institutional Investors 107
20. Chapter 9: The Impact of The Great Inflation 127
21. Chapter 10: Mortgage Backed Securities and Structured Products Conundrums 137
22. Chapter 11: The Aftermath of the Abyss 149
23. Chapter 12: The Rise of Leveraged Buyouts, High Yield Bonds, and Private Equity Investment 151
24. Chapter 13: The Rise of Hedge Funds and Emergence of Aggressive Activism 163
25. Chapter 14: The Evolution of the New York Stock Exchange 169
26. Part III: The Role of The Board
27. Introduction 171
28. Chapter 15: Clarifying the Rights and Roles of the Board and the Shareholders 175
29. Chapter 16: Assessing the Proliferating Policies and Principles 187
30. Chapter 17: Considering the Proposed New Paradigm 191
31. Part IV: Doing the Job
32. Boards Must Protect Corporation Regardless of Conflicting Agendas 207
33. Chapter 18: Review Issues for Boards to Address Highlighted by NYSE 209
34. Chapter 19: Establish the Appropriate “Tone at the Top” 213
35. Chapter 20: Choose the CEO Wisely and Actively Plan for Succession 219
36. Chapter 21: Develop a Strong Organizational Framework 225
37. Chapter 22: Tailor Board Work to the Company 227
38. Chapter 23: Focus Intently on Compensation 243
39. Chapter 24: Seek Wisdom, Courage and Breadth of Experience in Director Recruitment 245
40. Chapter 25: Actively Evaluate Board Performance to Constantly Improve 251
41. Chapter 26: Manage Risk Effectively 255
42. Chapter 27: Independently Evaluate the Impact and Execution of Transactions 261
43. Chapter 28: Communicate Clearly, Consistently and Constantly 263
44. Part V: Hazards and Their Navigation
45. Chapter 29: Address Individual Hazards and Personal Fear 269
46. Chapter 30: Navigate Corporate Hazards and Distressed Situations 275
47. Chapter 31: Recognize and Rectify Hazards of Board Process 289
48. Chapter 32: Know that Steady, Purposeful Work is the Antidote 293
49. Chapter 33: Survive Success and Relentlessly Build Resilience 301
50. Conclusion: Own the Role and Build the Future 305
51. Index 307