RAND Center for Corporate Ethics and Governance
Improving corporate ethics and public policy through objective, empirical research and analysis.
The RAND Center for Corporate Ethics and Governance, or CCEG, is committed to improving public understanding of corporate ethics, law, and governance, and to identifying specific ways that businesses can operate ethically, legally, and profitably at the same time.
The CCEG is dedicated to three objectives:
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Creating more effective public policies
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Promoting more ethical, self-governing corporate cultures, and
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Improving public trust in the corporate world.
More »Selected News
Advisory Board member Amy Schulman recognized by Forbes as one of "The World's 100 Most Powerful Women"
Forbes has identified Center for Corporate Ethics and Governance Advisory Board member Amy Schulman, Pfizer's Senior Vice President & General Counsel, as the world's 81st most powerful woman. The Center congratulates Ms. Schulman on this outstanding and well-deserved recognition.
Read more at Forbes.com
SEC Chair Quotes Center Research
Mary Schapiro, SEC Chairwoman and former member of the RAND Center for Corporate Ethics and Governance Advisory Board, cited the Center's study, "Investor and Industry Perspectives on Investment Advisers and Broker-Dealers," in her recent address to the New York Financial Writers' Association.
Read the Speech at mondovisione.com
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Research brief
Selected Publications
Sarbanes Oxley Has Non-monetary Costs
Sarbanes Oxley is widely considered the most comprehensive business legislation since the New Deal. While research has been done on the financial costs, little is known about the non-monetary effects. This study evaluates those effects, finding that as a result of the legislation firms have been harmed, and/or have decreased in value.
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What the Policy Community Should Know About Corporate Compliance, Ethics, and Misdeeds
Improving corporate compliance, ethics, and oversight has been a significant policy goal for the U.S. government for decades, and made more salient by the collapse of financial markets in late 2008. On March 5, 2009, RAND convened a conference in Washington, D.C., on the role and perspectives of corporate chief ethics and compliance officers in the detection and prevention of corporate misdeeds.
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Complexity of Industry Makes It Difficult to Distinguish Broker-Dealers & Investment Advisers
The financial services industry is complex and financial service professionals are becoming less distinguishable and more inter-related. However, investors are generally highly satisfied with their own financial service providers.
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News Release
Going-Private Decisions and the Sarbanes-Oxley Act of 2002: A Cross-Country Analysis
This paper investigates whether the regulatory regime created by the Sarbanes-Oxley Act of 2002 (SOX) has driven firms in general, and small firms in particular, out of the public capital market.
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Cataclysmic Liability Risk Among Big Four Auditors
Since the implosion of Arthur Andersen in 2002, many have advocated that the auditing industry should be insulated from legal liability, arguing that the profession faces such high risk of cataclysmic liability that its future viability is imperiled. This article discusses the legal, theoretical, and empirical nature of that claim.
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Selected Commentary
Throw Out the Inside Traders — Jan. 17, 2008
Just a few years ago, insider trading was considered "dirty." It was the province of marginal players working on the fringe of the capital markets... But today insider trading has proliferated and gone global, writes Larry Zicklin.
Commentary
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