Corporate board : managers of risk, sources of risk

Corporate Boards: Managers of Risk, Sources of Risk deals with the highly timely topic of the Corporate Board and its relationship to risk, both in terms of its management and its creation.

Utilizes a multi-disciplinary perspective which draws on the fields of economics, law, business ethics, and corporate social responsibility Features a range of topics including the role of corporate boards in overseeing increasingly complex risk management techniques and the ethical dimensions of corporate board behavior in managing risk Of interest to students, scholars, and firm stakeholders Explores how recent events have also shown that the members of Corporate Boards can be sources of risk

Author Notes

Robert W. Kalb has taught at the University of Florida, Emory University, the University of Miami, the University of Colorado, and Loyola University Chicago, where he currently serves as Professor of Finance and holds the Frank W. Considine Chair of Applied Ethics. Kolb is the author or coauthor of more than 50 research articles and 25 finance texts on topics including financial derivatives, investments, corporate finance, and financial institutions. He recently edited the Encyclopedia of Business, Society, and Ethics (2007). Kolb also founded Kolb Publishing, Inc., which published finance and economics university texts and was acquired by Blackwell Publishing, now part of John Wiley Sons, Inc.
Donald Schwartz is Professor of Finance at Loyola University Chicago where he directs the Center for Integrated Risk Management and Corporate Governance and the MS in Finance program. Donald holds as PhD from Purdue University. Prior to coming to Loyola, Donald was a Senior Executive with Chase Manhattan Banking Corporation and two subsidiaries of Cargill Incorporated. He has worked extensively with corporations and governments to design and execute market and financial risk programs.

Robert W. Kolb and Donald SchwartzMichael A.M. Keehner and David R. KoenigMichael PottsReza DibadjManuel A. UtsetSridhar RamamoortiGreg Young and Steven H. BarrShann TurnbullZhenyu Wu and Yuanshun Li and Shujun Ding and Chunxin JiaDavid R. KoenigDonna J. Fletcher and Mohammad J. Abdolmohammadi and Jay C. ThibodeauSteven Swidler and Claire E. CrutchleyWilliam J. Lekse and Mengxin ZhaoTom NohelDuane WindsorBarry M. MitnickDenise Kleinrichert and Anita SilversJohn R. Boatright

Notes on Contributors	p. vii
Preface	p. xv
Introduction	p. 1
Part I A Factual Basis	p. 7
1 The Relationship Between Boards of Directors and their Risk Management Organizations: Are Standards of Best Practice Emerging?	p. 9
Part II Is Risk Management by Corporate Boards Even Possible?	p. 53
2 Risk Management, Chaos Theory, and the Corporate Board of Directors	p. 55
3 Anti-Social Norms, Risky Behavior	p. 70
4 Time-Inconsistent Boards and the Risk of Repeated Misconduct	p. 90
5 Discussion	p. 112
Part III Board Structure and the Management of Risk	p. 123
6 Theories of Governance and Corporate Moral Vulnerability	p. 125
7 Mitigating the Exposure of Corporate Boards to Risk and Unethical Conflicts	p. 143
8 Supervisory Board and Financial Risk-Taking Behaviors in Chinese Listed Companies	p. 175
9 Discussion	p. 192
Part IV Corporate Boards and the Management of Specific Risks	p. 197
10 Entity-Level Controls and the Monitoring Role of Corporate Boards	p. 199
11 Do Corporate Boards Care About Sustainability? Should They Care?	p. 217
12 Executive Risk Taking and Equity Compensation in the M&A Process	p. 235
13 Discussion	p. 267
Part V Corporate Boards, Risk Management, and the Ethical Firm	p. 273
14 The Ethics of Risk Management by a Board of Directors	p. 275
15 Assurance and Reassurance: The Role of the Board	p. 294
16 Risk Disclosure and Transparency: Toward Corporate Collective and Collaborative Informed Consent	p. 316
17 Discussion	p. 341
Index	p. 355

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Table of Contents