Managers are supposed to behave within certain ethical and fiduciary boundaries, material developments are supposed to be communicated to the market in a timely and accurate way, and everyone is supposed to behave according to the law and regulations. However, master practitioners Smith and Walter note that the role and function of the corporation is evolving, and that such principal players as auditors and bankers must refocus on their obligations to their shareholders, clients and investors. Smith and Walter cover the bubble phenomenon, the new financial markets, legacies of the corporation and the changing roles of their directors, the new powers of the CEO, and the roles of institutional investors, auditors and bankers. They close with an evaluation of what government regulation has done to corporate governance and what should be done to correct it. Annotation #169;2006 Book News, Inc., Portland, OR (booknews.com) Distributed by Syndetic Solutions, Inc.

Ingo Walter currently holds the Seymour Milstain Chair in Finance, Corporate Governance, and Ethics at New York University's Stern School of Business. Distributed by Syndetic Solutions, Inc.

Part I Corporations, Governance, and Capital Markets in Perspective
Chapter 1 Irrational Exuberance	3
Chapter 2 The New Financial Markets	23
Part II Corporations and Their Governance
Chapter 3 Legacies of the Corporation	49
Chapter 4 The Role and Duties of Corporate Directors	74
Chapter 5 Evolution and Powers of the CEO	99
Part III Corporate Governance and Capital Market Institutions
Chapter 6 Institutional Investors	121
Chapter 7 The Auditors	159
Chapter 8 The Bankers	192
Part IV Governance, Restraints, and Conflicts of Interest
Chapter 9 Government Regulation and Corporate Governance	219
Chapter 10 Conflicts of Interest	248
Chapter 11 The Future of Governance	270
Notes	293
Selected Bibliography	307
Index	311

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