The Death of Corporate Reputation

How Integrity Has Been Destroyed on Wall Street

Business & Finance, Finance & Investing, Corporate Finance, Banks & Banking, Finance
Cover of the book The Death of Corporate Reputation by Jonathan Macey, Pearson Education
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Jonathan Macey ISBN: 9780133039719
Publisher: Pearson Education Publication: March 20, 2013
Imprint: FT Press Language: English
Author: Jonathan Macey
ISBN: 9780133039719
Publisher: Pearson Education
Publication: March 20, 2013
Imprint: FT Press
Language: English

Why did the financial scandals really happen? Why are they continuing to happen? In The Death of Corporate Reputation, Yale's Jonathan Macey reveals the real, non-intuitive reason, and offers a new path forward. **For over a century law firms, investment banks, accounting firms, credit rating agencies and companies seeking regular access to U.S. capital markets made large investments in their reputations.  They treated customers well and ** sometimes **endured losses in transactions or business deals in order to ** sustain and nurture their reputations as faithful brokers and “gate-keepers.”  This has changed completely **. The existing business model among leading participants in today’s capital markets no longer treats customers as valued clients whose trust must be earned and nurtured, but as ** one-off “counter-parties” to whom no duties are owed and no loyalty is required .  The rough and tumble norms of the market-place have replaced the long-standing reputational **model in U.S. finance. **

This book describes the transformation in American finance **from the old reputational model to the existing laissez faire model and argues that the change came as a result of ** three factors: (1) the growth of reliance on regulation rather than reputation as the primary mechanism for protecting customers and (2) the increasing complexity of regulation, which made technical expertise rather than reputation the primary criterion on which customers choose who to do business with in today’s markets ; and (3) the rise of the “cult of personality” on Wall Street, which has led to a secular demise in the relevance of companies’ reputations and the concomitant rise of individual “rain-makers” reputation as the basis for premium pricing of financial services. This compelling book will drive the debate about the financial crisis and financial regulation for years to come -- both inside and outside the industry.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Why did the financial scandals really happen? Why are they continuing to happen? In The Death of Corporate Reputation, Yale's Jonathan Macey reveals the real, non-intuitive reason, and offers a new path forward. **For over a century law firms, investment banks, accounting firms, credit rating agencies and companies seeking regular access to U.S. capital markets made large investments in their reputations.  They treated customers well and ** sometimes **endured losses in transactions or business deals in order to ** sustain and nurture their reputations as faithful brokers and “gate-keepers.”  This has changed completely **. The existing business model among leading participants in today’s capital markets no longer treats customers as valued clients whose trust must be earned and nurtured, but as ** one-off “counter-parties” to whom no duties are owed and no loyalty is required .  The rough and tumble norms of the market-place have replaced the long-standing reputational **model in U.S. finance. **

This book describes the transformation in American finance **from the old reputational model to the existing laissez faire model and argues that the change came as a result of ** three factors: (1) the growth of reliance on regulation rather than reputation as the primary mechanism for protecting customers and (2) the increasing complexity of regulation, which made technical expertise rather than reputation the primary criterion on which customers choose who to do business with in today’s markets ; and (3) the rise of the “cult of personality” on Wall Street, which has led to a secular demise in the relevance of companies’ reputations and the concomitant rise of individual “rain-makers” reputation as the basis for premium pricing of financial services. This compelling book will drive the debate about the financial crisis and financial regulation for years to come -- both inside and outside the industry.

More books from Pearson Education

Cover of the book The Truth About Male & Female Markets by Jonathan Macey
Cover of the book Hot-Wiring Your Creative Process by Jonathan Macey
Cover of the book Pure Corba by Jonathan Macey
Cover of the book How to Be Brilliant at Public Speaking 2e by Jonathan Macey
Cover of the book My Samsung Galaxy Tab S2 by Jonathan Macey
Cover of the book Windows Lockdown! by Jonathan Macey
Cover of the book Microsoft Office 2007 for Windows by Jonathan Macey
Cover of the book Business Express: Leading your team through change by Jonathan Macey
Cover of the book Video with Adobe Flash CS4 Professional Studio Techniques by Jonathan Macey
Cover of the book The Morally Intelligent Organization by Jonathan Macey
Cover of the book Set Yourself Up for Success (Collection) by Jonathan Macey
Cover of the book Microsoft Exchange Server 2007 Unleashed by Jonathan Macey
Cover of the book Adobe Dreamweaver CS4 How-Tos by Jonathan Macey
Cover of the book Tapping into Unstructured Data by Jonathan Macey
Cover of the book Photoshop CS Killer Tips by Jonathan Macey
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy