Cowboys v. Cattle-thieves: The Role of Innovative Institutions in Managing Risks along the Frontier
Author(s)
Smith, Fred L. Jr
Abstract
Risk – the possibility that a desired event will not occur or that a feared outcome will – is often considered the limiting factor of man’s activities. With the collapse of Enron and the other corporate scandals of the 90s in mind, the author looks at various attitudes towards risk and examines what roles they might have on corporate governance. He looks at the effect the beliefs of different social and cultural systems have on risk taking and corporate unethicalness and concludes with suggestions to bolster corporate accountability.
