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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.

    CBR_274_Deakin_&_Konzelmann_2004.pdf - Published Version of Record

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    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.


    Item Type: Monograph (Working Paper)
    Keyword(s) / Subject(s): Enron, corporate governance, shareholder value, internal control, non-executive directors, stewardship, monitoring board
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Research Centres and Institutes: Responsible Business Centre
    Depositing User: Sue Konzelmann
    Date Deposited: 18 Jan 2013 11:44
    Last Modified: 02 Aug 2023 17:01


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