ActiviteitenIn het kader van haar doelstelling (het bij elkaar brengen van wetenschap en praktijk op het gebied van toezicht en compliance) organiseert het Erasmus Instituut Toezicht & Compliance naast onderwijsactiviteiten ook met regelmaat diverse andere activiteiten. Jaarlijks vinden een symposium, seminars, onderzoeksbijeenkomsten en andere activiteiten plaats. De meeste activiteiten zijn zowel voor eigen participanten als andere geïnteresseerden toegankelijk.
Op de homepage en op de pagina 'Nieuws' worden de activiteiten, georganiseerd door het EITC, getoond. Tevens zullen andere activiteiten die weliswaar door derden worden georganiseerd, maar die interessant zijn voor wetenschappers en een ieder die zich bezighoudt met toezicht en compliance, worden vermeld.
Wilt u per e-mail op de hoogte worden gehouden van de activiteiten? Meldt u dan aan voor de nieuwsbrief van het EITC.
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EITC Symposium 'Reputational penalties in business regulation: the business case for business ethics?' |
The modern-day business environment is characterised by a wealth of different regulations. Both traditional law enforcement agencies and new functional authorities (such as Financial Services Authorities) play a part in making sure that firms comply with the applicable laws and act as good ‘corporate citizens’.
Research pioneered by John Braithwaite suggests that reputation mechanisms within markets also have a role to play in the enforcement of business regulation. Reputational sanctions can be more restrictive than legal sanctions and bring the risk of disproportionate stigmatizing publicity. Jonathan Karpoff’s study has demonstrated that financial markets impose huge reputational penalties after the disclosure of financial misrepresentation. Firms on average stand to lose more than half of their stock value, while reputational penalties are over 7.5 times as large as the sum of all legal costs!
The symposium will address the functioning of reputation mechanisms in markets, both as an instrument of law enforcement and a reality that firm managers have to take into account when setting up a compliance policy for their company. It features the two most renowned scholars in the field, and a confrontation of their views with those of a highly experienced practitioner. The symposium is organized to serve the interests of executives, academics and policy specialists. Its ambition – and that of the Erasmus Institute Monitoring & Compliance in general – is to facilitate the mutual intellectual exchange between academics, professionals and executives in a novel and emerging field of knowledge.
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Presenters
John Braithwaite
John Braithwaite is an Australian Research Council Federation Fellow and professor at the Australian National University. He is the world’s leading scholar in the field of business selfregulation. He has written many thoughtprovoking scientific articles. His books have won many prizes in the US and Europe. He is the founder of the Regulatory Institutions Network, and has served as an advisor to the Australian government and institutions on numerous occasions. |
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Jonathan M. Karpoff
Jonathan M. Karpoff is the Norman J. Metcalfe Professor of Finance at the University of Washington’s Michael G. Foster School of Business and is currently the president of The Financial Management Association International. He has published on fisheries management, insider trading, dividend policy, regulation, shareholder activism, corporate governance, and the causes and consequences of corporate misconduct. His research has had a global impact. |
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Hendrik Jan Biemond
Hendrik Jan Biemond is a partner with Allen & very. Until April 2007 he was the Chief Public prosecutor in the special corporate fraud team of the Dutch Prosecution Service. This culminated in his lead role negotiating the Ahold settlement and the successful prosecution of its top management. In his position as Chief Public Prosecutor he cooperated with both the SEC and the US office of the Southern District of New York. He has extensive experience with leading large investigations and has a strong reputation in this area. |
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Program overview
• 13.15 - 13.45
Welcome
• 13.45 - 14.00
Opening by Marc Loth, dean of the Erasmus School of Law
• 14.00 - 14.30
John Braithwaite, Australian National University
The Theory and Practice of Reputational Penalties in Business Regulation
• 14.30 - 15.00
Jonathan Karpoff, University of Washington
What about liars, cheats, and thieves? The role of markets in controlling dissipative and opportunistic behavior
• 15.00 - 15.30
Break
• 15.30 - 16.00
Hendrik Jan Biemond, Allen & Overy
Managing reputation risks in a zero tolerance world
• 16.00 - 16.30
Panel discussion and interaction with audience
• 16.30 - 17.30
Drinks
Coordinator & contact information
Professor Hans van Oosterhout
or
Judith van Erp
Date, time and location
Registration and fee.
The registration fee for this symposium is € 150,00. A limited number of fee reduction registration is available on a first-come , first served basis for employees of Dutch universities and Erasmus alumni. The reduction fee for employees of Dutch universities is € 75,00 and for Erasmus alumni is € 100,00 (please mention Alumni number). Registration is needed. Please submit your registration at the bottom of this site before 26 May 2008.
Fee payment has to be sent to:
Erasmus Universiteit Rotterdam
EUR juridische faculteit, Rotterdam
ABN AMRO Bank 415.878.659
IBAN NL75ABNA0415878659
BIC ABNANL2A
Please mention this no.: 2002010003
Payment has to be received by 2 June 2008
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| ACTIVITEITEN |
EITC Symposium 'Reputational penalties in business regulation: the business case for business ethics?' |
The modern-day business environment is characterised by a wealth of different regulations. Both traditional law enforcement agencies and new functional authorities (such as Financial Services Authorities) play a part in making sure that firms comply with the applicable laws and act as good ‘corporate citizens’.
Research pioneered by John Braithwaite suggests that reputation mechanisms within markets also have a role to play in the enforcement of business regulation. Reputational sanctions can be more restrictive than legal sanctions and bring the risk of disproportionate stigmatizing publicity. Jonathan Karpoff’s study has demonstrated that financial markets impose huge reputational penalties after the disclosure of financial misrepresentation. Firms on average stand to lose more than half of their stock value, while reputational penalties are over 7.5 times as large as the sum of all legal costs!
The symposium will address the functioning of reputation mechanisms in markets, both as an instrument of law enforcement and a reality that firm managers have to take into account when setting up a compliance policy for their company. It features the two most renowned scholars in the field, and a confrontation of their views with those of a highly experienced practitioner. The symposium is organized to serve the interests of executives, academics and policy specialists. Its ambition – and that of the Erasmus Institute Monitoring & Compliance in general – is to facilitate the mutual intellectual exchange between academics, professionals and executives in a novel and emerging field of knowledge.
|
|
Presenters
John Braithwaite
John Braithwaite is an Australian Research Council Federation Fellow and professor at the Australian National University. He is the world’s leading scholar in the field of business selfregulation. He has written many thoughtprovoking scientific articles. His books have won many prizes in the US and Europe. He is the founder of the Regulatory Institutions Network, and has served as an advisor to the Australian government and institutions on numerous occasions. |
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Jonathan M. Karpoff
Jonathan M. Karpoff is the Norman J. Metcalfe Professor of Finance at the University of Washington’s Michael G. Foster School of Business and is currently the president of The Financial Management Association International. He has published on fisheries management, insider trading, dividend policy, regulation, shareholder activism, corporate governance, and the causes and consequences of corporate misconduct. His research has had a global impact. |
|
Hendrik Jan Biemond
Hendrik Jan Biemond is a partner with Allen & very. Until April 2007 he was the Chief Public prosecutor in the special corporate fraud team of the Dutch Prosecution Service. This culminated in his lead role negotiating the Ahold settlement and the successful prosecution of its top management. In his position as Chief Public Prosecutor he cooperated with both the SEC and the US office of the Southern District of New York. He has extensive experience with leading large investigations and has a strong reputation in this area. |
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Program overview
• 13.15 - 13.45
Welcome
• 13.45 - 14.00
Opening by Marc Loth, dean of the Erasmus School of Law
• 14.00 - 14.30
John Braithwaite, Australian National University
The Theory and Practice of Reputational Penalties in Business Regulation
• 14.30 - 15.00
Jonathan Karpoff, University of Washington
What about liars, cheats, and thieves? The role of markets in controlling dissipative and opportunistic behavior
• 15.00 - 15.30
Break
• 15.30 - 16.00
Hendrik Jan Biemond, Allen & Overy
Managing reputation risks in a zero tolerance world
• 16.00 - 16.30
Panel discussion and interaction with audience
• 16.30 - 17.30
Drinks
Coordinator & contact information
Professor Hans van Oosterhout
or
Judith van Erp
Date, time and location
Registration and fee.
The registration fee for this symposium is € 150,00. A limited number of fee reduction registration is available on a first-come , first served basis for employees of Dutch universities and Erasmus alumni. The reduction fee for employees of Dutch universities is € 75,00 and for Erasmus alumni is € 100,00 (please mention Alumni number). Registration is needed. Please submit your registration at the bottom of this site before 26 May 2008.
Fee payment has to be sent to:
Erasmus Universiteit Rotterdam
EUR juridische faculteit, Rotterdam
ABN AMRO Bank 415.878.659
IBAN NL75ABNA0415878659
BIC ABNANL2A
Please mention this no.: 2002010003
Payment has to be received by 2 June 2008
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