Business Ethics and Corporate Governance, Second Edition

REVIVAL OF CORPORATE GOVERNANCE ISSUES IN THE NEW MILLENNIUM

As the stock market began to decline in the United States in early 2000, a number of thus far highly regarded companies began to collapse. Most dramatic was the demise of Enron. Serious problems were also reported at WorldCom, Adelphia, Global Crossing, Dynegy, Sunbeam, and Tyco. The revelations gave rise to anguished complaints of corruption, fraud, deception, insider trading and self-dealing at major corporations, which only months ago, looked invincible and almost infallible. Further research revealed that these examples of types of corporate fraud represented only a small sample of the murky goings on in hundreds of corporations. Between the period 2000 and 2002, the revelations ...