Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations [Hardcover]

Christopher L. Culp (Editor), William A. Niskanen (Editor)

Book Description

Publication Date: June 6, 2003

The first book to address public policy in the light of recent corporate debacles

Corporate Aftershock is a reasoned, informed response to the numerous proposals to restrict derivatives, structured financing activities, and shareholder protection principles and practices following the failure of Enron and other corporations. Readers get a cogent analysis of the public policy world after recent corporate debacles. Corporate Aftershock provides a detailed background of the markets, players, regulations, and institutional environment surrounding these failures.

Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC. William A. Niskanen, PhD (Washington, DC), is Chairman of the Cato Institute.

Editorial Reviews

Review

"...with Corporate Aftershock as your guide, you'll learn what sensible solutions can be made..." (International Accountant, July 2006)

From the Inside Flap

In the wake of Enron’s implosion and other major corporate meltdowns, there have been hasty calls for stricter laws to regulate the markets and products in which these companies were involved. But without proper analysis of the situation, these responses may unknowingly cause greater damage to the economy and investors than the original events. To avoid rushing into politically charged action and ensure that appropriate measures are implemented, we must first take the time to consider what really went wrong, then carefully decide how to prevent a repeat of such corporate disasters.

In an effort to curb the unnecessary "man-made aftershocks" that continue to ripple throughout the business world today, Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations has been written as a reasoned, informed response to the numerous proposals to restrict derivatives, stifle structured financing activities, and amend shareholder protection principles and practices following the failure of Enron and other corporations. Editors Christopher Culp and William Niskanen have assembled an expert cast of contributors, each of whom are leaders in their respective fields–from credit risk management to energy and derivatives markets–to provide an unbiased public policy analysis of the failure of Enron and other major corporations.

Comprised of five distinct sections, Corporate Aftershock offers an in-depth examination and straightforward explanation of issues that focus on the policy lessons specific to the markets Enron traded in, as well as the specialized financial instruments it used in its endeavors.

Topics discussed include:

• Corporate innovation and governance
• Energy and derivatives markets after Enron
• Structured finance
• Credit risk mitigation
• Regulating corporate innovation after Enron

Was Enron an innovator, a sham, or a bit of both? What can we learn from Enron’s failure that might impact the future operation and regulation of energy and derivatives markets? What role did accounting and disclosure policies play in Enron’s abuse of otherwise legitimate structured finance activities? Without rushing to judgment, Corporate Aftershock answers these and many other questions. Dealing with corporate disasters through hasty reactions rarely solves the true problems. With Corporate Aftershock as your guide, you’ll learn what sensible solutions can be made in the wake of fallout from corporate disasters.

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Product Details

• Hardcover: 356 pages
• Publisher: Wiley; 1 edition (June 6, 2003)
• Language: English
• ISBN-10: 0471430021
• ISBN-13: 978-0471430025
• Product Dimensions: 9.3 x 6.3 x 1.2 inches
• Shipping Weight: 1.3 pounds (View shipping rates and policies)
• Average Customer Review: 2.3 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #2,053,507 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

3 of 6 people found the following review helpful:

1.0 out of 5 stars Disappointing, May 2, 2004

By A Customer

This review is from: Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations (Hardcover)

There are many good books on Enron, but this isn't one of them. This book is a major disappointment. The authors cobbled together this book by reading articles about the Enron situation with no first hand research.

3 of 6 people found the following review helpful:

1.0 out of 5 stars Dull as Dirt, April 2, 2004

By A Customer

This review is from: Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations (Hardcover)

What should have been an interesting topic is given very dull treatment. You've read everything presented here on public policy before.

2 of 5 people found the following review helpful:

5.0 out of 5 stars Balanced review, April 22, 2004

By A Customer

This review is from: Corporate Aftershock: The Public Policy Lessons from the Collapse of Enron and Other Major Corporations (Hardcover)

This books brings together the fundamental issues of Enron in a balanced educated way. Each author brings important experience and insight to the table about this amazing disater with more insight that those in Washington who attempt to regulate its aftermath. It is a true service to its readers.