Cover image for Corporate aftershock : the public policy lessons from the collapse of Enron and other major corporations
Title:
Corporate aftershock : the public policy lessons from the collapse of Enron and other major corporations
Author:
Culp, Christopher L.
Publication Information:
Hoboken, N.J. : J. Wiley, [2003]

©2003
Physical Description:
xxix, 321 pages : illustrations ; 24 cm
General Note:
"Cato Institute."

Published simultaneously in Canada.
Language:
English
Contents:
Empire of the sun : a neo-Austrian economic interpretation of Enron's energy business / Christopher L. Culp and Steve H. Hanke -- Corporate accounting after Enron : is the cure worse than the disease? / Richard Bassett and Mark Storrie -- Corporate governance : pre-Enron, post-Enron / Alton B. Harris and Andrea S. Kramer -- Wholesale electricity markets and products after Enron / Andrea M.P. Neves -- Regulation of wholesale electricity trading after Enron / Andrea S. Kramer, Paul J. Pantano, and Doron F. Ezickson -- Online trading and clearing after Enron / John Herron -- Do swaps need more regulation? / David Mengle -- An introduction to the business of structured finance / Barbara T. Kavanagh -- Structured commodity finance after Enron : uses and abuses of pre-paid forwards and swaps / Christopher L. Culp and Barabara T. Kavanagh -- Accounting and disclosure issues in structured finance / Keith A. Bockus, W. Dana Northcut, and Mark E. Zmijewski -- Credit risk management lessons from Enron / Christopher L. Culp -- Credit derivatives post-Enron / Andrea S. Kramer and Alton B. Harris -- The market for complex credit risk / Paul Palmer -- Cowboys vs. cattle thieves : the role of innovative institutions in managing risks along the frontier / Fred L. Smith, Jr.
Added Corporate Author:
ISBN:
9780471430025
Format :
Book

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Summary

Summary

The first book to address public policy in the light of recent corporate debacles

Corporate Aftershock is a reasoned, informed response to the numerous proposals to restrict derivatives, structured financing activities, and shareholder protection principles and practices following the failure of Enron and other corporations. Readers get a cogent analysis of the public policy world after recent corporate debacles. Corporate Aftershock provides a detailed background of the markets, players, regulations, and institutional environment surrounding these failures.

Christopher L. Culp , PhD (Chicago, IL), is a Principal at CP Risk Management LLC. William A. Niskanen, PhD (Washington, DC), is Chairman of the Cato Institute.


Author Notes

Christopher L. Culp, PhD, is an Adjunct Professor of Finance at the University of Chicago's Graduate School of Business, a Principal at CP Risk Management LLC and Chicago Partners LLC, and a Senior Fellow in Financial Regulation at the Competitive Enterprise Institute.
William A. Niskanen, PhD, has been chairman of the Cato Institute since 1985. Previously, he was acting chairman of President Reagan's Council of Economic Advisors


Table of Contents

Christopher L. CulpWilliam A. NiskanenChristopher L. Culp and Steve H. HankeRichard Bassett and Mark StorrieAlton B. Harris and Andrea S. KramerAndrea M. P. NevesAndrea S. Kramer and Paul J. Pantano Jr. and Doron F. EzicksonJohn HerronDavid MengleBarbara T. KavanaghChristopher L. Culp and Barbara T. KavanaghKeith A. Bockus and W. Dana Northcut and Mark E. ZmijewskiChristopher L. CulpAndrea S. Kramer and Alton B. HarrisPaul PalmerFred L. Smith Jr.
About the Editorsp. vii
About the Contributorsp. ix
Prefacep. xvii
Acknowledgmentsp. xxiii
Introductionp. xxvii
Editors' Notep. xxix
Part 1 Corporate Innovation and Governancep. 1
1. Empire of the Sun: A Neo-Austrian Economic Interpretation of Enron's Energy Businessp. 3
2. Corporate Accounting after Enron: Is the Cure Worse Than the Disease?p. 28
3. Corporate Governance: Pre-Enron, Post-Enronp. 49
Part 2 Energy and Derivatives Markets After Enronp. 89
4. Wholesale Electricity Markets and Products after Enronp. 91
5. Regulation of Wholesale Electricity Trading after Enronp. 106
6. Online Trading and Clearing after Enronp. 130
7. Do Swaps Need More Regulation?p. 145
Part 3 Structured Finance After Enronp. 151
8. An Introduction to the Business of Structured Financep. 153
9. Structured Commodity Finance after Enron: Uses and Abuses of Prepaid Forwards and Swapsp. 174
10. Accounting and Disclosure Issues in Structured Financep. 193
Part 4 Credit Risk Mitigation After Enronp. 209
11. Credit Risk Management Lessons from Enronp. 211
12. Credit Derivatives Post-Enronp. 236
13. The Market for Complex Credit Riskp. 253
Part 5 Regulating Corporate Innovation After Enronp. 263
14. Cowboys versus Cattle Thieves: The Role of Innovative Institutions in Managing Risks along the Frontierp. 265
Referencep. 301
Indexp. 311