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| Author: | Drennan, L.T. |
| Title: | Ethics, governance and risk management: Lessons from Mirror Group Newspapers and Barings Bank |
| Journal: | Journal of Business Ethics
2004 : JUL II, VOL. 52:3, p. 257-266 |
| Index terms: | Business ethics Corporate governance Management Risk management Corporate culture Company failures |
| Language: | eng |
| Abstract: | While corporate failures, such as Enron and WorldCom, have focused attention on issues of business ethics, corporate governance and risk management, there is nothing intrinsically new in the reasons behind their collapse. An examination of the financial collapse of Mirror Group Newspapers and Barings Bank, demonstrates failures within both these companies' corporate cultures and management systems, which allowed, if not encouraged, unethical behaviour by key individuals. It is argued that a combination of legislation, regulation, effective risk management and appropriate sanctions are needed, if such unethical behaviour, and resulting corporate failure, is to be prevented in future. |
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