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    Learning from Enron

    Deakin, S. and Konzelmann, Suzanne J. (2003) Learning from Enron. Working Paper. ESRC Centre for Business Research, Cambridge, UK.

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    Abstract

    This essay argues that the Enron affair has been misunderstood as a failure of monitoring, with adverse consequences for the drafting of the Sarbanes-Oxley Act and the Higgs report. Where Enron’s board failed was in underestimating the risks that were inherent in the company’s business plan and failing to implement an effective system of internal control. Enron demonstrates the limits of the monitoring board and points the way to a stewardship model in which the board takes responsibility for ensuring the sustainability of the company’s assets over time.

    Metadata

    Item Type: Monograph (Working Paper)
    Keyword(s) / Subject(s): Enron, corporate governance, shareholder value, internal control, non-executive directors, stewardship, monitoring board
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Research Centre: Corporate Governance and Ethics, London Centre for
    Depositing User: Suzanne Konzelmann
    Date Deposited: 18 Jan 2013 11:44
    Last Modified: 09 Dec 2016 11:07
    URI: http://eprints.bbk.ac.uk/id/eprint/5856

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