2.7 A short history of the corporation  (Page 5/7)

Citation for table

Requirements of sarbanes-oxley (summarized by dyrud: 37)

• Provide increased protection for whistle-blowers
• Adhere to an established code of ethics or explain reasons for non-compliance
• Engage in "full, fair, timely and understandable disclosure"
• Maintain"honest and ethical" behavior.
• Report ethics violations promptly
• Comply with "applicable governmental laws, rules, and regulations"
• Dyurd cites: ELT, Ethics and Code of Conduct , n.d.; http://www.elt-inc.com/solution/ethics _and_code_of_conduct_training_obligations.html

Amended federal sentencing guidelines (taken from dyrud: 37)

1. Establishing standards and procedures to prevent and detect criminal conduct
2. Promoting responsibility at all levels of the program, together with adequate program resources and authority for its managers
3. Exercising due diligence in hiring and assigning personnel to positions with substantial authority
4. Communicating standards and procedures, including a specific requirement for training at all levels
5. Monitoring, auditing, and non-internal guidance/reporting systems
6. Promiting and enforcing of compliance and ethical conduct
7. Taking reasonable steps to respond appropriately and prevent further misconduct in detecting a violation

Legal trail toward corporate moral personhood: a table summary

What you will do ...

Exercise one: other people's money

Watch the shareholder's meeting in the movie, " other people's money." then answer the questions below. think generally about what the manager of a corporation should do with the money its stakeholders have invested in it.

• What is Larry the Liquidator's basic argument? What is Andrew Jorgensen's basic argument?
• What is Larry the Liquidator's conception of the nature and value of the corporation? What is Andrew Jorgensen's conception of the nature and value of the corporation?
• What is the social responsibility of a corporation according to Larry the Liquidator? What is it according to Andrew Jorgensen?
• Write a paragraph on which argument you find most persuasive, that of Larry or that of Andrew. Explain why you find it persuasive.