34 of 40 people found the following review helpful
5.0 out of 5 stars
This fascinating governance "encyclopedia" has it all!, Feb 6 1998
By Alexandra R. Lajoux - Published on Amazon.com
This review is from: Corporate Governance (Paperback)
If you want a single-volume resource on the topic of corporate governance, I urge you to beg, borrow, steal--or better yet, in the spirit of free enterprise, buy with a click from Amazon--Corporate Governance, now heading for another printing due to popular demand. Monks, a former Labor Department official, and Minow, an attorney by training, go beyond the "letter" of corporate governance and into its spirit in this monumental work, a sequel to their Power and Accountability (1991). Whether you are searching for sweeping theories, or simply want a place to look up key phrases from "agency costs" to "zones of ambiguity;" whether you want to travel through General Motors history or revisit Ross Perot's "pet rocks" quip, you will find what you are looking for here. "What is a corporation?" the authors begin. "It is the relationship among various participants in determining the direction and performance of corporations." Monks and Minow go on to define these participants as the shareholders, management, and board of diretors, devoting a section to each. Then comes an overview of corporate governance in over a dozen countries. One of the best features in the book is the series of Socratic questions that appear in italics throughout. One follows: "How do we create a governance and ownership structure that gives employees the optimal role, from the perspective of fairness (to maximize their contributions) and productivity (to maximize their future contributions?)" How indeed? Read this book to find out.
23 of 26 people found the following review helpful
4.0 out of 5 stars
An academically oriented book., April 23 2001
By A Customer - Published on Amazon.com
This review is from: Corporate Governance (Paperback)
Would be an excellent tome for students of business. Also would be applicable for folks who are more interested in the corporate governance from a policy side. It's focus is publicly held companies, so if you're looking for a practitioners guide on how to 'get things done' in a startup world, this book doesn't address any of that. That doesn't make it a bad book, it just has it's focus on public companies.
22 of 25 people found the following review helpful
3.0 out of 5 stars
Too much stuff, too little structure, Mar 7 2006
By grouchy - Published on Amazon.com
This review is from: Corporate Governance (Paperback)
I do not like this book.
1. It lacks structure. The book flows in all direction at the same time, desperately looking for a purpose.
2. The clutter is overwhelming and the 400+ pages fail to reveal the purpose of the book. I see two alternatives - a review of corporate governance directed to non-academic use or an academic textbook in corporate governance directed to advanced undergraduate and graduate students. No book can accomplish both without failing in one of the two. I believe this book is a poor, but the only, choice as a textbook in US corporate governance. Mallin's corporate governance book is in many ways superior to Monks and Minow. Blair's book explains the same problems as Monks and Minow does in 60 pages.
3. The book does not figure out the main issues in corporate governance and structure the book around them. The three ideas, ownership - monitoring - performance, the book uses are too artificial and overly simplistic and this simplicity is completely lost in the book. Actually, these three ideas are the only clear areas in the book. I would suggest the following "great themes". Ownership, management, control, performance, and stakeholders is probably a better way to look at the main areas in corporate governance that the existant.
5. The ideas of corporate governance are either "best practice" or what is "a failure". You cannot economize explanations, but the book has scores of marginal areas that seem to overwhelm and confuse the readers without belonging to "best practices" or " failures". These marginal cases, references, thoughts, and ideas make it almost impossible to understand what is the purporse of the discussion. Case in point: dealing with greenmail under the board of directors?
6. The book is long.
7. Either add more cases to the book, or offer the cases separately. Make sure that the cases are even. Having a 20 page case on GM is excellent.
8. As a trained lawayer, I have not had any problems following the book. As a finance PhD doing research in corporate governance, I have no problems following the book. But any non-lawyer or layman, is likely to find the material frustrating, overwhelming and muddy. The material is not accessible, barely understandable, and hardly beneficial to the average reader (who is very unlikely a JD with a finance PhD).