This is the keynote address delivered at the biennial convention of the Financial Intermediation Research Society Convention in Shanghai in June of 2006. It addresses the normative and positive impacts of the corporate governance issues of recent years on the study of Finance

The recent malaise in the market for management education has coincided with a spate of criticism from within academe. (Criticisms from without seem less subject to cyclicality.) This discussion seeks to evaluate these criticisms in terms of their relationship to the decline in demand for...

This teaching case, Carefree in Play, focuses on the behavior of a corporate board during a control contest, a time of potentially acute conflict between management and shareholders. It illustrates how a board may be subverted and lays the groundwork for discussion of what should be done to...

This paper amplifies themes growing out of Greenbaum, 2012. That paper presented a framework for thinking about Enterprise Risk Management (ERM). We begin this paper by deconstructing the concepts of risk, risk management and ERM. These are all unsettled ideas, but they have been adapted and...

For financial intermediaries, especially those that are public companies, enterprise risk management (ERM) is a paradigm shifting idea. In this paper, I provide an interpretation of ERM that is both historical and analytical. The origins of the idea are examined along with the appropriate...