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| Tekijä: | Fogarty, T. (et al.) |
| Otsikko: | Inside agency: the rise and fall of Nortel |
| Lehti: | Journal of Business Ethics
2009 : JAN II, VOL 84:2, p. 165-187 |
| Asiasana: | agency theory executive remuneration stock options |
| Vapaa asiasana: | Nortel |
| Kieli: | eng |
| Tiivistelmä: | Based on the principles of agency theory, this article conducts a clinical analysis of a multinational telecommunications company Nortel. The findings of the analysis reveal a norm of usual suspects: over-sized CEO compensation, dysfunctional board of directors, income smoothing and revelations of financial irregularities. The Nortel case is an example of a great success and rise followed by a sudden downfall, which demonstrates the contradictions of corporate governance system. The infamous story of Nortel also points out the weaknesses and limitations of the agency theory in complex situations including short-term oriented shareholders. |
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