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| Author: | Taylor, B. |
| Title: | Shell shock: why do good companies do bad things? |
| Journal: | Corporate governance
2006 : MAY, VOL. 14:3, p. 181-193 |
| Index terms: | corporate governance corporate responsibility petroleum industry companies shareholders stock markets crises Europe |
| Language: | eng |
| Abstract: | In recent years, overbooking of oil and gas reserves by Shell provoked one of the biggest corporate scandals in Europe. This article's themes: 1. The origins of the scandal: the shortage of oil reserves, weak internal controls, the dual company structure and the closed corporate culture. 2. The impact of the crisis: the resignations of top managers, the fines imposed by the regulators, the fall of the share price and the decline in employee morale. 3. The remedial action required: to rebuild Shell's reputation and to restore the trust of the investors, customers and the general public. |
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