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CEOs can extract extraordinarily high income from the firms they manage because of their monopoly power. This derives both from a general preference for hiring proven CEOs who have already served at other firms, as well as from the tendency of new CEOs to reorganize the firms they lead. Firms’ status quo bias unnaturally delimits the pool of CEO applicants and increases the monopoly power of incumbent CEOs. New CEOs who install their own top management teams generally reorganize the firm to optimize the application of their own abilities and those of their new team. However, CEOs can also reorganize to maximize their monopoly power. Conceptualizing CEOs as potential monopolists integrates insights from the principal/agent, upper echelon, efficiency wage, and x-inefficiency literatures. This paper develops the consequences of monopolistic CEOs who potentially receive efficiency wages that may exceed their marginal revenue product. If CEO income is sufficiently high, their labor-supply curves bend backwards, something far less likely for other employees. A backward-bending labor-supply curve can result in CEOs receiving even greater income as they deliver even lower levels of executive leadership.

In the wake of a series of corporate scandals, there has been a growing call for authentic leadership in order to ensure ethical conduct in contemporary organizations. Authentic leadership, however, depends upon the ability to draw a distinction between the authentic and inauthentic leader. This paper uses Deleuze's discussion of Platonism as a point of departure for critically scrutinizing the problem of authenticating the leader—drawing a distinction between authentic and inauthentic leaders. This will be done through a reading of Bill George's book Authentic Leadership. Informed by Deleuze's inverted Platonism, the paper challenges the practice by which authentic leaders are distinguished from inauthentic leaders. In conclusion, the paper suggests that an adequate concept of authentic leadership should consider how ethics can occur when the authentic leader is able to critically reflect his or her own value-commitments.

Alas, the short holiday week forced me to stick to my knitting in Little Rock, impatiently waiting for word from our northwest Arkansas editor, Marty Cook, who was covering the action in U.S. District Judge Timothy Brooks' courtroom the way he used to cover sports. Mike Maggio, the former judge in Faulkner County who admitted that he reduced a jury's verdict against a nursing home because the nursing home's owner gave him a campaign contribution, also got 10 years. Woods' sentence dwarfs the seven years that the late Gene Cauley got from a federal judge in New York for stealing more than $9 million from a client trust fund, and Nick Wilson, mastermind of the last great corruption scandal in our state Legislature, got a sentence of only 70 months.

The inside story of one of history's greatest business scandals, in which top executives of America's 7th largest company walked away with over one billion dollars while investors and employees lost everything.

There are many examples of unethical business conduct where individuals acted in their own self-interest, without taking into account their ethical obligations to others. Using freshmen business majors, this study demonstrates that females tend to have lower levels of moral disengagement than their male counterparts. Females also showed a stronger internal locus of control which was correlated with lower levels of moral disengagement. As the results indicate, there is a positive correlation between an internal locus of control and lower levels of moral disengagement. Further, application of Waidato Environment for Knowledge Analysis (WEKA) for the nine categories of moral disengagement successfully classified females far more often than males, based on their levels of moral disengagement.

Christopher Bruno of Bruno & Degenhardt, P.C. explains the reduction in the sentence of former Enron CEO Jeffrey Skilling by 10 years, which will see him released from prison in 2017. He speaks on Bloomberg Television's 'Bottom Line.'

La Organización de Países Exportadores de Petróleo (Opep) daría la bienvenida a Ecuador si regresa al cartel que abandonó en 1992, dijo el ministro de Energía qatarí, Abdulá bin Hamad al Attiya. Ecuador, quinto exportador de petróleo de Sudamérica, se retiró por incumplimientos con las cuotas establecidas por la organización. El presidente electo de Ecuador, Rafael Correa, ha expresado su deseo de retornar para \"hacerles contrapeso a los poderes hegemónicos\". Al menos 39 países dependen económicamente de la venta de un único producto, mientras que cerca de medio centenar basa su economía en un máximo de tres, según la Conferencia de la ONU para el Comercio y el Desarrollo (Unctad). \"La pobreza de muchos países en desarrollo está ligada a los productos que ofertan, ya que sus economías dependen de muy pocos, lo que las hace muy inestables, mientras que sus productores no pueden acceder a los mercados internacionales\", aseguró el organismo. © NoticiasFinancieras - © GDA - Portafolio - All rights reserved