Title: Corporate Monitorships and New Governance Regulation: In Theory, in Practice, and in Context
Abstract: Law & PolicyVolume 33, Issue 4 p. 509-541 Corporate Monitorships and New Governance Regulation: In Theory, in Practice, and in Context CRISTIE FORD, Corresponding Author CRISTIE FORD University of British Columbia, CanadaCristie Ford, Assistant Professor, Faculty of Law, University of British Columbia, 822 East Mall, Vancouver, B.C. V6T 1Z1, Canada. Telephone: (604) 822-2711; E-mail: [email protected].Search for more papers by this authorDAVID HESS, DAVID HESS Ross School of Business at the University of MichiganSearch for more papers by this author CRISTIE FORD, Corresponding Author CRISTIE FORD University of British Columbia, CanadaCristie Ford, Assistant Professor, Faculty of Law, University of British Columbia, 822 East Mall, Vancouver, B.C. V6T 1Z1, Canada. Telephone: (604) 822-2711; E-mail: [email protected].Search for more papers by this authorDAVID HESS, DAVID HESS Ross School of Business at the University of MichiganSearch for more papers by this author First published: 11 August 2011 https://doi.org/10.1111/j.1467-9930.2011.00347.xCitations: 11 The authors would like to thank the participants at the New Governance and the Business Organization conference at the University of British Columbia, and the anonymous reviewers of this article, for very helpful comments. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Abstract Over the last few years, it has become increasingly common for government agencies to resolve corporate criminal law and securities regulations violations through the use of settlement agreements that require corporations to improve their compliance programs and hire independent monitors to oversee the changes. Based on our interviews with corporate monitors, regulators, and others, we find that these monitorships are failing to meet their full potential in reforming corrupt corporate cultures. After reviewing potential reforms to improve monitorships from a new governance perspective, we discuss the limits of these reforms that are due to the sociological and institutional environment in which monitorships are embedded. REFERENCES Ashcroft, John. 2009. "Bailout Justice," New York Times May 5: A27. Ayres, Ian, and John Braithwaite. 1992. Responsive Regulation: Transcending the Regulatory Debate. New York: Oxford Univ. Press. Baer, Miriam. 2009. 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