Diagnosis
> Shareholder value fundamentalism
The Great Bank Robbery, Nassim Nicholas TALEB, 2nd September 2011
Out of control: the destructive power of financial markets, Dietmar HAWRANEK, Armin MAHLER, Christoph PAULY, Michaela SCHISSL, Thomas SCHULZ, 22th February 2011
BP’s failure to debias: underscoring the importance of behavioural corporate finance, Hersh SHEFRIN, Enrico Maria CERVELLATI, March 2011
Value destruction and financial reporting decisions, John GRAHAM, Harvey CAMPBELL and Shivaram RAJGOPAL, September 2006
The economics of short-term performance obsession, Alfred RAPPAPORT, 2005
Rethinking “shareholder value” and the purpose of the firm, Aspen Institute, 2011
> Regulatory capture
The corporate capture of the United States, Robert MONKS, 5th January 2012
Preventing Nuclear Meltdown: Assessing Regulatory Failure in Japan and the United States, Daniel KAUFMAN, 1st April 2011
> Narrow conception of risk
Meltdown: not just a metaphor, Joseph STIGLITZ, 6th April 2011
The Black Swan: The Impact of The Highly Improbable, Nassim Nicholas TALEB, 2007
> Organisational learning disabilities
Predictable Surprises: The Disasters You Should Have Seen Coming, And How To Prevent Them, Max BAZERMAN Max, Michael WATKINS, 2004
The next catastrophe: reducing our vulnerabilities to natural, industrial, and terrorist disasters, Charles PERROW, 2007
> Leadership failures
Pay without performance: the unfulfilled promised of executive compensation, BECHBUK Lucian, FRIED Jesse, 2004
Stop tying pay to performance, Bruno FREY, Margit OSTERLOH, 2012
Taking the lid off CEO pay, CAULKIN Simon, April 2012
In financial crisis, no prosecution of top figures, Gretchen MORGENSON, Louise STORY, 2011
Inside Job, Charles FERGUSON, 2011
Smeal professor addresses CEO confidence and risk-taking, Don HAMBRICK, 2010
> Weak concern for negative externalities
Did the US taxpayer really make a profit on the bank bailout?, Deniz ANGINER, 2012
The million dollar gram, David MCCANDLESS, 2009
Ways forward
> General
High Performance with High Integrity, Ben HEINEMAN, 2010
The pension fund revolution, Peter DRUCKER, 1976
The big idea: creating shared value, Michael PORTER, Mark KRAMER, January 2011
Capitalism for the long term, Dominic BARTON, 1st March 2011
A manifesto for sustainable capitalism, Al GORE, David BLOOD, 11st December 2011
A systems approach to financial reform, John FULLERTON, January 2012
> Investing
Wealth Across Generations: Can Pension Funds Shape the Future of Capitalism, Keith AMBACHTSHEER, November 2011
Reclaiming Fiduciary Duty Balance, James HAWLEY, Keith JOHNSON, Ed WAITZER, 2011
Investing for the long run, Andrew ANG, Knut KJAER, November 2011
Accelerating the transition towards sustainable investing, World Economic Forum, 2011
Pension funds as universal owners: opportunity beckons and leadership calls, Roger URWIN, 2011
What is Preventable Surprises?
Preventable Surprises is a project for individuals who reject the idea that the corporate and market crises that we increasingly experience are disconnected and unavoidable, but believe that the investment community has a pivotal role and could become a much bigger part of the solution.
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