The frequently used textbook is now in its 4th edition and includes new case studies on Tesla, VW, Nikola, WeWork, and Theranos.
Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-seven case studies and eight essays that cover a full range of business practices, controls, and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, contemporary ethics challenges like ‘Fake it Till You Make It,’ and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they’d face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how ‘The Young are the Most Vulnerable,’ i.e. short-service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that will help them to follow their moral compass. Finally, the cases provide an in-depth look at how a corporation becomes progressively corrupted (Enron), how the Financial Crisis was rooted in ethical decay at institutions as diverse as Countrywide, Goldman Sacks, Citigroup, and Moody’s, and at the ethical challenges that have emerged in the post-crisis, post-Dodd-Frank environment at firms like TESLA, VW, Theranos and WeWork.
Audience
This text provides practical case study work for business and law students, and employees in the formative stages of their careers. It is intended to help prepare this audience to withstand pressures and adverse cultural influences as they progress along a career path.
Table of Contents
PrefaceForeword
Introduction to the 4th Edition
Note to Faculty: How to Use this Book
Acknowledgements
The Enron Cases Part 1 Demolishing Financial Control, Neutering the Gatekeepers
Chapter 1 Enron Oil Trading: Untimely Problems in Valhalla
Chapter 2 Enter Mark-to-Market: Exit Accounting Integrity?
Chapter 3 Part 2 Business Struggles, Accounting Manipulations; Enron's SPEs: A Vehicle too Far?
Chapter 4 Court Date Coming in California?
Chapter 5 Part 3 Resisting Corruption at Enron; New Counsel for Andy Fastow
Chapter 6 Lay Back … and Say What?
Chapter 7 Whistleblowing Before Imploding in Accounting Scandals
The Financial Crisis Cases Part 1 New Business Models Undermine Standards and Controls
Chapter 8 Seeking a Sustainable Business Model at Goldman Sachs
Chapter 9 He's Madoff with the Money - Stop Him Now?
Chapter 10 Should Countrywide Join the Subprime ‘Race to the Bottom’?
Chapter 11 Subprime Heading South at Bear Stearns Asset Management
Chapter 12 Part 2 Consequences for Gatekeepers and Firms; Ratings Integrity vs. Revenues at Moody's Investors Services
Chapter 13 Admission of Material Omission? Citigroup's SIVs and Subprime Exposure
Chapter 14 Facing Reputational Risk on Goldman's ABACUS 2007-AC1
Chapter 15 Time to Drop the Hammer on AIG's Controls?
Chapter 16 Part 3 Financial Firms and Resisters; Write to Rubin? - Pressure on Underwriting Standards at Citigroup
Chapter 17 Lehman Brothers Repo 105
The Post-Crisis Cases - Reforms, Resistance, Continuing Realities Part 1 The Dodd-Frank Act: A Primer
Chapter 18 Back to the Future on Goldman Sachs Reputational Risk
Chapter 19 Take Customer Cash to Survive? Compliance and Chaos at MF Global
Chapter 20 Too Big to Know What's Going on at Banamex?
Chapter 21 Take CitiMortgage to the Feds?
Chapter 22 Faking it on Diesel Emissions at VW (A)?
Chapter 23 Faking it on Diesel Emissions at VW (A)?
Chapter 24 Fake it Till You Make it at TESLA?
Chapter 25 Fake it Till You Make it with Patient Blood at Theranos?
Chapter 26 Fake it Till You Cash Out?' on Flexible Office Space at WeWork?
Chapter 27 What to Do About Faking it at Nikola?
Index
