Street Smarts：Linking Professional Conduct with Shareholder Value in the Securities Industry

作者 Roy C. Smith Ingo Walter
出版社 Harvard Business School Press
出版时间 1997年7月
ISBN 9780875846538

内容简介

OnWallStreet,thepressuretoperformandtheethicaldilemmasthataccompanyitdidnotfadeawaywiththeinsidertradingscandalsofthe1980s.Asheadlinesinrecentyearsattest,criminalproceedings,regulatorycomplaints,andcustomerlitigationcontinuetomarthereputationofthebankingandsecuritiesindustries.ThisbookisaforcefulcalltoactionforWallStreetleaderstostrengthenandprotecttheirshareholders'valuebyinstitutingandmaintainingmuchhigherprofessionalstandards.Theauthors-withtheirdozensofyearsasinsidersonWallStreet-castarevealingeyeoncorporateandindividualconductinfinancialinstitutionsandmarkets.Theyidentifythemajorissuesofprofessionalconductconfrontingthebankingandsecuritiesindustriestoday-includingmisrepresentation,marketrigging,insidertrading,moneylaundering,whistleblowing,andconflictsofinterests-astheyrecountthelessonsofscandalsandroguebehaviorthathaverockedeventhemostvenerablefirmsontheStreet.SmithandWalterarguethatitisnotenoughforfirmstorelyonsurveillanceandcomplianceeffortstopreventtheirpeoplefromsteppingoverthelineoflegalandappropriateconduct;reputationsinthefinanceworldaretooimportant.Connectingprofessionalconducttoshareholdervalue,theauthorscallforimmediateaction.Theindustry,theycontend,needstocreateanenvironmentinwhicheachfirmdevelopsitsleadersandindividualmanagerstotakeresponsibilityforshapingandupholdingthestandardsthroughcreativeandsupportiveemployeedevelopmentandretentionprograms.Nothinglessthanthefutureoftheindustryisatstake.StreetSmartswillhelpbankers,securitiesanalysts,traders,andinvestorsunderstandwhatneedstobedonenowtofosteranopen,responsiblecorporateculturethatcreateslong-termvalueandhigherreturns.

作者简介

RoyC.Smith,aprofessorofentrepreneurship,financeandinternationalbusinessatNewYorkUniversity,hasbeenonthefacultyofSternSchoolofBusinesssince1987.Priorto1987hewasaGeneralPartnerofGoldman,Sachs&Co.,specializingininternationalinvestmentbankingandcorporatefinance.HereceivedaB.S.fromtheU.S.NavalAcademyin1960andanM.B.A.fromHarvardUniversityin1966.TheauthorofseveralbooksoninternationalbankingincludingTheGlobalBankers,publishedin1989,whichhasbeenwidelyacclaimed,Mr.SmithisafrequentguestlectureratbusinessschoolsintheU.S.andinEurope.HeandhiswifeMariannaliveinMontclair,NewJersey.

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