CEOs and Market Woes: Is Poor Corporate Governance to blame?

From Wall Street to Detroit (and other parts of the World), chief executives are losing their bonuses, agreeing to work for a dollar a year and in many cases losing their jobs. Congress (and other Governments) are invading the executive suite, demanding veto power over management decisions as a price for tax-funded rescues.

And, of course, stock prices have plummeted.

It all looks like a sweeping vote of no confidence, as if the world thinks America's (and other Countries) executives and boards of directors are beset with an epidemic of incompetence, self-dealing or both. Many shareholder advocates see the financial collapse and economic woes as stunning proof of their long-held claim that too often the wrong people are in charge -- and that attacking this problem demands an overhaul in corporate governance regulations ... READ MORE

Released by Knowledge@Wharton December 2008