Setting the Stage
- 1 August 2003
- journal article
- research article
- Published by SAGE Publications in Management Communication Quarterly
- Vol. 17 (1) , 5-19
- https://doi.org/10.1177/0893318903253418
Abstract
The 2002 meltdown of major U.S. corporations was the culmination of a number of interrelated trends that started in the 1970s and continued unabated through the 1990s. Cultural myths, public policies, and organizational practices coalesced to create a fraud-inducing system, one in which executive selection and reward systems encouraged unethical and/or illegal activities, public discourse elevated private financial gain over the interests of multiple stakeholders and glorified short-term asset appreciation while denigrating long-term corporate development, and public policies and institutional changes seriously weakened executive accountability.Keywords
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