Strategies, Markets and Governance: Exploring Commercial and Regulatory Agendas

Half-title......Page 3
Title......Page 5
Copyright......Page 6
Contents......Page 7
List of Figures, Boxes and Tables......Page 10
Acknowledgments......Page 12
Preface......Page 13
Notes on Contributors......Page 15
Part I Introduction and overview......Page 17
1 Strategies, markets and governance......Page 19
1. By way of introduction – concepts and cases......Page 20
Strategies......Page 21
Markets......Page 22
Governance......Page 24
2. The economics of distrust – market failures and institutional responses......Page 27
Strategic behavior, abuse and contracting......Page 28
Internal organization and managerial control......Page 30
Political direction......Page 31
In sum......Page 32
Market-driven coordination – Limits and potential......Page 33
Regulatory competition, convergence and collusion......Page 36
Towards a ‘civil economy’?......Page 39
4. Strategies, markets and governance – structure and overview......Page 40
Part II Firm-level......Page 49
1. Competitive advantage – business and regulation......Page 51
2. Abuse of dominance under Section 2 of the US Sherman Act and Article 82 of the EC Treaty......Page 55
Exclusionary conduct......Page 57
Pricing......Page 59
3. EU discussion paper on the application of Article 82 to exclusionary abuse......Page 60
Relationship of Article 82 with other provisions......Page 61
Market definition and dominance......Page 62
Framework for analysis of exclusionary abuses......Page 63
Single branding and rebates......Page 64
Refusal to supply......Page 65
4.In sum......Page 66
1. Contracts, laws and economics......Page 68
2. Strategy, economics and law of vertical control......Page 71
3. The White Paper, Commission Regulation No 2790/1999 and guidelines......Page 74
Regulatory cooperation vs. competition......Page 80
Self-regulation......Page 81
5. In sum......Page 83
1. Introduction......Page 85
The early development of corporate governance......Page 86
Development of corporate governance in the 1970s......Page 87
Development of corporate governance in the 1980s......Page 88
Development of corporate governance in the 1990s......Page 90
Development of corporate governance since 2000......Page 93
Converging corporate governance and its drivers......Page 96
Persistent corporate governance and the barriers for diffusion......Page 98
A general assessment of the value of corporate governance regulation diffusion......Page 100
4. Conclusion and outlook......Page 101
1. The millennium meltdown......Page 104
2. The great crash – history repeats itself......Page 106
3. The Enron saga......Page 108
4. Underlying causes of corporate failure......Page 109
Link 1: Ineffective boards......Page 110
Link 2: Strategic failures......Page 111
Link 3: The dominant CEO......Page 112
Link 5: Over-expansion and ill-judged acquisitions......Page 113
Link 6: Control failures......Page 114
5. Making such failures less likely......Page 115
Back to basics – Separating operations from monitoring......Page 116
Aligning executive pay......Page 117
6 Tackling healthcare fraud!?......Page 120
Case 1: Up-coding fertility?......Page 122
Case 2: Kick-backs or arbitrage – Globudent?......Page 123
Case 3: Confessions of a managed care medical director......Page 124
A brief note on moral standards......Page 128
1. Differentiating watchdog campaigns from proxy war campaigns......Page 131
Watchdog campaigns......Page 132
Watchdog rhetoric and audience......Page 133
Watchdog tactics......Page 134
Proxy war campaigns......Page 135
Proxy war target selection......Page 136
Proxy war rhetoric and audience......Page 137
Proxy war tactics......Page 138
2. How radical \"David\" social movement organizations beat mainstream \"Goliath\" firms......Page 139
3. Understanding and managing watchdog and proxy war campaigns......Page 142
Campaign dynamics......Page 143
Why SMOs are effective......Page 144
Firm-specific risk factors......Page 146
Avoiding attacks......Page 147
Responding to attacks......Page 148
4. Conclusion......Page 149
2. Sudan’s war......Page 150
3. Lundin in Sudan......Page 152
Community relations......Page 154
Internal review......Page 156
The Lundin code of conduct......Page 157
Stakeholder engagement......Page 159
The Swedish Ministry for Foreign Affairs (home government)......Page 160
Non-governmental organizations......Page 161
Think tanks......Page 162
Peace negotiators......Page 163
4. Lessons learned......Page 164
Part III Industry-level......Page 165
1. Introduction: Overview of the Clean Air Act Interstate Rule (CAIR)......Page 167
1.2 Note on NOx SIP call......Page 169
1.4 NOx......Page 170
2. Regulatory drivers leading to CAIR......Page 171
3. LG&E Energy’s current situation......Page 172
4. CAIR compliance options for coal-fired electric generating units......Page 174
5. LG&E Energy CAIR compliance strategy......Page 175
6. Impact on LG&E Energy and its competitors......Page 177
LG&E Energy information......Page 179
Competitor information......Page 180
10 EU water infrastructure management: National regulations, EU framework directives but no model to follow......Page 182
1. EU water industry – regulatory structures and challenges......Page 183
Germany......Page 188
Performance and challenges......Page 189
France......Page 190
Structure......Page 191
Performance and challenge......Page 192
Structure......Page 193
Performance and challenges......Page 194
Governance concerns......Page 196
Stages and issues of policy formulation......Page 199
Defying parliamentary proposals......Page 200
Results and reactions......Page 201
3. EU Water Infrastructure Management – governance concerns......Page 205
11 Market-testing healthcare: Managed care, market evolution and the search for regulatory principles......Page 207
1. From the convergence towards \"Managed care\" to the common loss of cost control......Page 208
UK healthcare reform – original intent and status 2006......Page 209
1995-19996......Page 211
1999-2003......Page 212
2003-200?......Page 213
Checking hospital market power – can compounding regulatory failures finally be overcome?......Page 215
Reviewing Hatch-Waxman – making drug supplies contestable or collusion look good?......Page 218
Is a revival of antitrust sufficient?......Page 221
3. Options going forward – once again!......Page 222
Issues and barriers to adjustment......Page 224
A vital concern?......Page 226
An avoidable crisis?......Page 227
The context for adjustment?......Page 229
Adjusting towards maximum sustainable yield?......Page 231
2. Beyond fish: Environmental degradation and regulatory response......Page 234
Globalizing environmental standards?......Page 235
Changing the chip?......Page 237
Part IV Country/International level......Page 241
1. Oil market evolution, supply-side adjustments and NOCs......Page 243
Playing the market – competing on prospectivity, fiscal and regulatory terms......Page 247
Superseding the market – the quest for national political control......Page 250
Institutional economics and NOC governance......Page 253
Statoil – the evolution of the Norwegian model......Page 256
Saudi Aramco – A state within a state?......Page 259
NNPC – regulatory opportunities – avoided by whom?......Page 263
Discussion......Page 265
Identifying the hydrocarbon exposure......Page 269
Political and economic context......Page 270
Hydrocarbon exposure, the Kingdom’s role in OPEC and Saudi Aramco’s positioning......Page 272
5. Summary and conclusion......Page 273
1 China and reform in the global era......Page 275
2. Chinese historical dynamics and resistance to reform......Page 283
3. China, reform and globalization......Page 287
4. Prospects......Page 291
15 EU constitutional governance: Failure as opportunity!?......Page 293
Europe’s economic performance......Page 294
Demography and productivity......Page 297
Stability and growth......Page 298
Stakeholder representation and policy games......Page 300
On the legitimacy of constitutional order......Page 302
On efficient governance and inter-governmental coordination......Page 304
3. Assessing the EU’s Recent Constitutional Efforts......Page 306
Process......Page 307
Outcome......Page 309
4. Re-engineering Europe – including regional and local perspectives?......Page 314
16 One competition standard to regulate global trade and protection?......Page 317
1. The political economy of trade and protection......Page 319
2. Judging injurious trade......Page 322
3. A global competition code?......Page 326
Exposing differences in policy objectives and constituencies......Page 330
Giving consumers access to institutions, information and legal standing......Page 331
5. Summary and conclusion......Page 334
Part V An observation in closing......Page 335
1. Lost in translation......Page 337
2. From the invisible and visible to the conventional hand......Page 340
3. Rehabilitating moral reasoning......Page 343
Index......Page 345