Showing papers by "Robert W. McGee published in 2010"
TL;DR: In this paper, the author applies two sets of ethical principles (utilitarianism and rights theory) to determine when, and in what circumstances, insider trading is ethical and when it is not ethical.
Abstract: The common view is that insider trading is always unethical and illegal. But such is not the case. Some forms of insider trading are legal. Furthermore, applying ethical principles to insider trading causes one to conclude that it is also sometimes ethical. This paper attempts to get past the hype, the press reports, and the political grandstanding to get to the truth of the matter. The author applies two sets of ethical principles – utilitarianism and rights theory – in an attempt to determine when, and in what circumstances, insider trading is ethical. The views of Henry Manne, an early proponent of insider trading, are critically examined, as are the major arguments against insider trading. Is insider trading good for the company if it is used as a form of executive compensation which makes it possible to pay lower salaries than would otherwise be the case? Does insider trading cause the stock market to work more efficiently? If insider trading does increase efficiency, is that sufficient to call for its total legalization, or are there other things to be considered? Several arguments against insider trading have been put forth over the last few decades but there are problems with all of them. One of the main arguments is the fairness argument. The problem with this argument is that different people have different definitions of unfairness. A closely related argument is the level playing field argument, which advocates wider dissemination of information so that it is less asymmetric. One problem with the level playing field argument is that it is better applied to sporting competitions than to trading in information. Some economists argue that forcing the disclosure of nonpublic information can actually result in more harm than good and must necessarily involve the violation of property rights. Other arguments examined in this chapter include the fiduciary duty argument, the problem of outside traders, the misappropriation doctrine and the restrictions that insider trading laws place on freedom of speech and press. The article concludes by setting forth some principles or guidelines to determine when insider trading should be punished and when it should not.
93 citations
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Egypt. The paper concludes with an extensive bibliography.
52 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD's Principles of Corporate Governance (OECD 2004).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Moldova. The paper concludes with an extensive bibliography.
42 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Peru. The paper concludes with an extensive bibliography.
42 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Indonesia. The paper concludes with an extensive bibliography.
41 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Ghana. The paper concludes with an extensive bibliography.
40 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Bosnia and Herzegovina. The paper concludes with an extensive bibliography.
40 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Jordan. The paper concludes with an extensive bibliography.
40 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD's Principles of Corporate Governance (OECD 2004).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of the Czech Republic. The paper concludes with an extensive bibliography.
39 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of South Africa. The paper concludes with an extensive bibliography.
39 citations
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Hungary. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Malaysia. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Macedonia. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Panama. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Vietnam. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Chile. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Slovakia. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of the Philippines. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Pakistan. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Ukraine. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of India. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD's Principles of Corporate Governance (OECD 2004) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Croatia. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Mauritius. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Brazil. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as discussed by the authors.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Uruguay. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD's Principles of Corporate Governance (OECD 2004).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Azerbaijan. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Nepal. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC) as mentioned in this paper.
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Mexico. The paper concludes with an extensive bibliography.
TL;DR: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC).
Abstract: The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Lithuania. The paper concludes with an extensive bibliography.