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This paper examines the implementation of best practices for fund directors as outlined by the Investment Company Institute (ICI) in the summer of 1999. Following a series of well publicised scandals across the financial services industry, the issue of corporate governance within mutual funds is both timely and practical. The purpose of the study is to measure the consistency of implementation of the 15 best practices within fund families. The data indicate that mutual funds, in general, currently follow the guidelines proposed by the ICI. This suggests that most funds are undertaking efforts to protect investors and separate the interests of management from those of investors. These findings also have implications for proposed federal legislation. If mutual funds have already adopted procedures designed to protect investors, additional regulation is redundant.

In the light of recent financial scandals, such as Enron, Global Crossing and WorldCom, the purpose of this paper is to use an institutional theory perspective to examine the interactions between the accounting profession, the SEC and the Congress.

The paper takes an institutional perspective of the Sarbanes‐Oxley Act and reviews how historical events have led to various institutional developments, which, in turn, have resulted in accountancy changes.

The end result is posited to be an outcome that enhances the legitimacy of the SEC to regulate the accounting profession. At the same time, the accounting profession will emerge from the events able to proclaim that it is improved. Finally, politicians will garner favor from the voters since they have acted to protect the public from financial frauds.

Describes how the relationship among the three parties is in reality a highly predictable set of behaviors that will allow all of the participants to demonstrate legitimacy to their external constituents and enable each party to secure enhanced future resources.

In writing this case, the research team used secondary resources such as academic journals, trade magazines and websites to inform and verify the information.

January 7, 2021, was not a good day for Goya Foods CEO Robert Bob Unanue, who has been at the helm of Goya since 2004. On that day, the nine-member board of directors of Goya censured Unanue for publicly questioning the legitimacy of the 2021 United States Presidential election. A day before, on January 6, a mob “trapped lawmakers and vandalized the home of Congress in the worst desecration of the complex since British forces burned it in 1814” (Hockstein, 2021).

Unanue was considered a follower of former president Trump and has expressed that “the country was […] blessed to have a leader like President Trump, who is a builder” (Hawkins, 2020). In January 2021, Unanue appeared on Fox News and said a “ war was coming,” as Joe Biden’s election was “unverified.” These, among other words, motivated the censured by the board of Goya Foods, Inc. (Santana and Isidore, 2021).

Students are asked the following questions for discussion: Did the board of directors of Goya Foods carry its role too far by openly censuring Unanue? Did Unanue go too far by openly expressing subjective opinions and thus influencing how people view the election results? Should he have remained as CEO of Goya Foods after his words on Joe Biden’s election?

One of the authors has taught the case in the Strategic Management course for MBA students. In addition, graduate students of corporate governance, business ethics, social responsibility and leadership, among other classes, will be the target segments for the case.

1. Recognize the effects on brand image and sales when CEOs participate in political arenas and publicly discuss social issues.

2. Understand the dynamics behind ethnic family businesses, such as their governance and conflict resolution approach.

3. Assess the value of the corporate board’s management of corporations.

CCS11: Strategy

Summarizes the net capital flows from industrial to developing/transitional countries 1970‐1996 and recent changes in their equity and bond markets; and identifies the factors affecting these portfolio flows and risk/return behaviour in OIC stock markets. Uses monthly stock return data from ten OIC countries to demonstrate that despite their volatility they might offer opportunities for portfolio diversification; and uses cointegration methods to investigate the dynamic relationships between them. Discusses the causes of the Asian currency crisis and its impact on these stock marekts; and considers what trade and development policies OIC countries should adopt to improve their economies.

It is now common for finance textbooks to discuss the concepts of the CAPM, diversification benefit, and systematic risk, as measured by beta. The purpose of this paper is to clarify aspects of these concepts and make the textbooks readers aware of them. In particular, this paper seeks to: (1) clarify the notion that “diversification reduces risk,” (2) provide geometric expositions and algebraic expressions of portfolio benefits in the context of both total risk and market risk, and (3) improve the interpretation of beta.

BY a happy consonance the Year Book of the Library Association for 1946 reached us as the Conference at Blackpool was beginning. It set a character to the Conference in that it contained a most admirably faithful portrait of the President. He was, without a shadow of doubt, the personality of the week. The flexible and earnest open features of the portrait are those of an unusual man, distinctive in thought, speech and act. This was reflected in an address which someone declared, with the warm acquiesence of his hearers, to be “a classic of librarianship.” Even if this prove to be an exaggeration, since prophecy is unwise and rarely fulfilled, that was the effect he produced, in words that began on a self‐excusing note and with a, to himself, unfair comparison of himself with his predecessors, became with increasing tempo a pæan of the joy so many of us share in librarianship, in spite of the sacrifices and slights that all librarians encounter, interwoven with the quoted or suggested results of a life‐time of reading.

This paper aims to analyze the political background of the Hawthorne criticisms, positing that the political atmosphere of the 1940s, influenced by the decline of the new deal liberalism and the rise of the conservative coalition, stimulated scholars to challenge the Hawthorne studies.

Primary sources used in the guise of archival commentaries, journal articles and other published works (books and book chapters). Secondary sources are offered to provide additional insight and context.

The findings show that politics unnecessarily discredited Mayo. As a result, contemporary scholars failed to recognize Mayo’s work as an important part of the basis for modern management theory.

The purpose of the research is to look into the political context of the Hawthorne studies to understand how management practice and research is impacted by ongoing political issues.

To date, no work has fully accounted for or understood the political climate of the time in considering the criticisms of the Hawthorne studies. By more fully understanding the political context, scholars can reevaluate the weight they place on the then criticisms of the Hawthorne studies.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.