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Business Ethics: The Ethical Revolution of Minority Shareholders
 
 
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Business Ethics: The Ethical Revolution of Minority Shareholders [Hardcover]

Jacques Cory (Author)

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Book Description

March 31, 2001 0792373006 978-0792373001 1st
This monograph is based on qualitative and inductive research. All the cases treated in it are based on current events and try to find the common aspects and basic rules that govern the wrongdoing to the minority shareholders. In the four cases of US, French and Israeli companies, most of them in high tech, the minority shareholders lose almost all their investment. Those are not pervert cases but the norm in many companies, which is illustrated by qualitative cases, without being able of course to quantify them. Case studies are the preferred strategy when "how" and "why" questions are being posed. The purpose of this monograph is therefore to analyze why and how companies do not act ethically towards their minority shareholders, not how many, not which, not to what degree and not where.

Editorial Reviews

From the Back Cover

Business Ethics: The Ethical Revolution of Minority Shareholders is a pioneer and original work in the domain of ethics in the relations between companies and minority shareholders. The book puts into context the motives of the controlling shareholders, who operate in collaboration with the management of their companies, in order to maximize their profits, very often at the expense of the small shareholders who do not possess insider information. This volume describes how the traditional safeguards of the rights of shareholders, namely the law, the SEC, boards of directors, independent directors, auditors, analysts, underwriters and the press, are inefficient in many cases toward minority shareholders. New vehicles are needed for the ethical revolution of the minority shareholders, such as the Internet, Transparency and Activist Associations, enabling them to have at least the chance to understand the pattern and methods that wrong them and how they have for the first time an alternative to invest in Ethical Funds with 13% of all investments under professional management in the US and investments of billions of Euros in Europe. Ethical investing is screened to reflect ethical environmental, social, political or moral values. The empirical part of the book presents four cases of US, French and Israeli companies, most of them in high-tech, in which the minority shareholders lose almost all of their investments. The cases are based on current events and try to find the common aspects and basic rules that govern the wrongdoing to minority shareholders. The book concludes that once the minority shareholders, who are ultimately all of us, are assisted by the new vehicles of Ethics, and are properly organized, motivated and conscious of their strengths, they will be able to win their fight and safeguard their interests. Business Ethics is primarily intended for the academic market and is particularly appropriate for academics in business administration, ethics and finance. It should also appeal strongly to a professional business/finance market, but to minority shareholders as well, who are aware of the wrongdoing committed to them and who want to remedy the situation by activist conduct.

Product Details


More About the Author

Dr. JACQUES CORY - CURRICULUM VITAE


PERSONAL INFORMATION

Home Address: 2, Costa Rica Street, Haifa, Israel 34981
Telephone: 972-4-8256608, 972-4-8246316, Mobile: 972-544-589518, Fax: 972-4-8343848
E-mail: coryj@zahav.net.il or cory@netvision.net.il
Website: http://www.businessethicscory.com or http://www.businessethics.co.il

EDUCATION

Ph.D. Business Administration (with distinction), CNAM - Conservatoire National des Arts et Metiers, Paris, France, 2004. Doctoral Dissertation in French - 'Business Ethics and the Minority Shareholders' - the first dissertation on this subject in the world.
MBA Business Administration, INSEAD, Fontainebleau France, 1968. An International MBA in a trilingual program: English, French and German.
BA Economics and Political Sciences, Hebrew University of Jerusalem, Israel, 1966.

ACADEMIC EXPERIENCE

2010- Lecturer at the International MBA program - English, The Tel Aviv University, Israel: The Future of Capitalism in a Sustainable Society, a Contemporary Course in the context of the Great Recession of 2007-2010, and a course on Business Ethics.
2009- Lecturer at the Executive MBA program, The Technion Israel Institute of Technology, Tel Aviv, Israel: Business Ethics & the Future of Capitalism in a Sustainable Society.
2006 Visiting Professor, INSEAD, Singapore: Semestrial Course of Business Ethics - 'Individual, Business & Society: The Ethical Dilemma'.
2004- Lecturer at the MBA, International MBA, MA and BA programs, The University of Haifa, Israel: Business Administration, Business Ethics, CSR, Sustainability, Globalization, M&A, Business and Government, Leadership and Stakeholders, NGOs and the Public Sector. Elected in 2005 as the Best Lecturer of the University of Haifa.

PROFESSIONAL ACTIVITIES

2001- Lectures at conferences, universities, organizations, companies and governmental forums, in the U.S., Europe and Israel.
Transparency International, Berlin - Drawing Lessons from the Great 2008 Recession
Insead, Fontainebleau, France - Lectures and Workshops at Ethics Days.
European Union - Stresa, Italy, Lecture on Trends in M&A.
Ethics & Management Symposium in Paris.
Israel: Hi-Tech Summit, Directors' Convention, Top Management of Israeli Bank Leumi, Transparency International, Israeli SEC, Ethics Center at the Israeli Stock Exchange, Internal Auditors Convention, Magnes Launching of Book - ZOA hall, Tel Aviv, Mishkenot Shaananim Ethics Center, Bimat Kedem Launching of Book - Suzan Dalal hall, Tel Aviv, Ethics & Engineering, BDO, Elbit, Israel Aircraft Industries, Ernst & Young, Migdal Insurance Group, Radio, TV and Press Interviews, Ometz, Universities and Colleges, Izraeli Center, Apax Partners and the Israeli Insead Alumni
2009- Column "Ethics and You" - The Israeli CPA Review
2006- Member of the Editorial Advisory Board, Society and Business Review, Emerald.
2001- Israel: Essays and Articles on Business Ethics

BUSINESS ACTIVITIES

2006 Chairman of the Advisory Board, Taditel, Israel.
2005 Business Manager CycleTec, affiliate of American Israeli Paper Mill, Israel.
2002 General Manager Corporate Recovery Management, W&S Israel.
1981 - 2000 Top-level management of large and small hi-tech companies, M&A and strategic partnerships, international business, know-how transfer with conglomerates, shares and debentures offerings in the US & Israel, subsidiaries management, international turnarounds, initiating new ventures. Extensive business activities in France, US and Europe.

Turnaround Plans and successful implementation of Elbit (1981-1982), Elscint's subsidiaries (1987-1988), NBase (1995-1996), and other companies, in hi-tech and low-tech, in France, the US and Israel, increasing in several cases valuation by more than 1,000%.

M&A and JV Negotiations of Israeli, U.S., Canadian, French, German, and Spanish companies in the computer, Internet, data communication, telecom, imaging, semi-conductor, and aerospace industries. Due diligence, negotiations, 100 business plans, strategic planning.

Technology Transfer: conducting of negotiations and agreements, including development, manufacturing and marketing rights, between large European, American and Israeli companies, such as Nixdorf, Alcatel, Hon and Global. Management of a Satellite Communications Consortium (1991-1993) comprised of the largest Israeli companies.

Management: (1981-1987) Vice President in charge of business activities, sales and finance of Elbit, one of the largest Israeli hi-tech companies. Was directly responsible for the transition from heavy losses to peak profits, M&A, and international business breakthrough. Managed U.S. and Israeli public offerings. Member of U.S. and Israeli Boards of Directors.

1973-1980: Sales Manager and Head of the Defense Sales Department at Elbit, Israel.
1970-1973: Export Manager and Assistant to the Executive CEO at Electra, Israel.
1968-1970: Assistant to the Strategic Planning VP of Israel Aircraft Industries, Israel.

BOOKS

"Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein", The Edwin Mellen Press, 2009. An academic book in English, focusing on the Economic Whirl, starting in the eighties with damages of billions and culminating in the Great Economic Crisis of 2008 with damages of trillions, its origins, analysis and solutions. The book comprises of theoretical issues, cases based on business experience, and works on business ethics, sustainability, globalization, corporate governance, and social responsibility.

"Selected Issues in Business Ethics and Social Responsibility", published by Magnes Publishers, the Hebrew University of Jerusalem in 2008: Analysis of theoretical issues and ethical dilemmas in original cases, films, plays & novels, forecasting the world economic crisis & presenting practical vehicles to overcome the crisis. Received an outstanding acclaim.

Two books - "Business Ethics: The Ethical Revolution of Minority Shareholders" and "Activist Business Ethics", published by Kluwer Academic Publishers Boston in 2001 (now Springer). Paperback Editions by Springer - 2004. Pioneer research, based on case studies of U.S., French & Israeli companies and extensive business experience, with a modern approach on activism in business ethics. The books found the rules that govern unethical conduct towards minority shareholders, which were validated in the Enron scandal.

Novel "Beware of Greeks' Presents", Bimat Kedem, Israel, 2001. Adapted to the theater - "Nelly's Choice", with Amalia Eyal, in 2005. Translated into French in 2008.

LANGUAGES

Fluent in English, French (mother tongue), Spanish, Ladino, Hebrew. Fair knowledge of Italian, German, Portuguese, Romanian, Interlingua. Reading capabilities in 40 languages.

PUBLIC ACTIVITIES

1981- Member of the Society for Business Ethics in the US, the French and United Kingdom Chambers of Commerce in Israel. Member of the Boards of Directors/Management of Transparency International Israel, Ometz ethical NGO, Haifa Theater, Haifa Film Festival.

FAMILY AND PERSONAL STATUS

Married Ruthy Popliker, August 19, 1969. Three children: Joseph, Amir, Shirly. Born in Cairo, Egypt, June 5, 1944. Living in Israel since 1953. Israeli citizen.


LIST OF PUBLICATIONS - JACQUES CORY



2010 - Chapter of a book on Public Responsibility in Hebrew, to be published soon, on Business and Government in Israel, with Eran Vigoda Gadot

2010 - Chapter of a book "La RSE", on CSR, by Editions Dunod in French: "Une maniere originale d'enseigner la RSE" - An Original Methodology for teaching CSR

2009 - "Business Ethics for a Sustainable Society: Conquering the Corporate Frankenstein", The Edwin Mellen Press

October 2009 - Transparency International Israel, Shvil, Nihul Shakuf - The Decline of Ethics Following the Great Recession of 2008

June 2009 onwards - Columnist on Business Ethics in Roeh Haheshbon, the Israeli CPA Review: articles on The Great Recession of 2007-2010, Sustainability, Cases, CPA's Mission:

June 2009 - Chinese Wall's Illusion

August 2009 - CPA's Ethical Mission (in English and in Hebrew)

October 2009 - Drawing Lessons from the Great Recession of 2008

February 2010 - Sustainability - Paul Hawken

April 2010 - Mark to Market and the Great Recession

June 2010 - The Greatest Scheme in History

Various Articles in Ometz's website in 2009 and 2010

January 2009 - 36 Principles of Business & Ethics in the Economic World towards 2020, Transparency International Israel's site

2008 - "Selected Issues in Business Ethics and Social Responsibility", textbook in Hebrew published by Magnes Publishers, the Hebrew University of Jerusalem

April 2007 - Essay "The Twelve Commandments", 12 Rules on Reconciliation between Profitability and Ethics, in Roeh Haheshbon, the Israeli CPA Review, April 2007

2004 - Publication by Springer in paperback of the two books published by Kluwer in 2001

2004 - Doctoral Dissertation in French "Business Ethics and the Minority Shareholders", Conservatoire National des Arts et Metiers, Paris, France

June 2002 - Essay on "Internet and Transparency as Ethical Vehicles" in the Israeli review "Status"

October 2001 - Essay on "Internet and Transparency as Ethical Vehicles" in "Israeli Human Resources Journal"

2001 - Academic book "Activist Business Ethics", published by Kluwer Academic Publishers in Boston, USA

2001 - Academic book "BUSINESS ETHICS: The Ethical Revolution of Minority Shareholders" published by Kluwer Academic Publishers in Boston, USA

2001 - Ethical novel in Hebrew "Beware of Greeks' Presents" published in Israel by Bimat Kedem. Adapted to the theater in 2005: "Nelly's Choice" with Amalia Eyal (in Hebrew), and translated into French by Saskia Cohen "Le choix de Nelly" in 2008

March 2001 - Essay on "Business Ethics in Israel" in "Beware of Greeks' Presents"

1989 - Essay on Turnaround Plans in the 1989 Israel Economy and Society book

Articles in Globes and other Israeli newspapers by Cory, about Cory, and about Cory's books

August 2002 - Academic Books appear on home page of Kluwer's site as "Books Relating to the Enron Scandal".

July 2002 - Review on "Business Ethics" and novel in the National Chapter Bulletin of Transparency International

2002 - Review on "Business Ethics" in the European IQ Magazine no. 2, 2002, with a circulation of 30,000 copies to the Insead Alumni and Companies' contacts

Summer 2001 - Review on "Business Ethics" in Transparency and Management, Transparency International Journal, Shvil



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Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
unaffiliated shareholders, unaffiliated stockholders, unaffiliated directors, cash pot, ethical funds, activist associations, minority shareholders, unethical companies, strong buy recommendation, million shekels, smoking gun evidence, ethical revolution, turnaround plan, fairness opinion, majority shareholders, plaintiffs state, other shareholders, full merger
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Jean Loskron, United States, Wall Street, New York, Don Quixote, Great Britain, Colette Neuville, London Stock Exchange, European Approach, Genevieve Ferone, Mack the Knife, Soviet Union, The Emperor's Nightingale, Transparency International, Joe Keller, Philips Electr, South Africa, Adam Smith, Dee Jay, Royal Dutch Petroleum, Social Investment Forum
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