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May, 2007

Spreading the word to the business community Co-author of a book on leadership in Asia sees merit in the idea of sharing the knowledge and experience of the EMBA programme's high-achieving alumni South China Morning Post, May 27, 2007
	The Kellogg-HKUST EMBA programme has achieved worldwide status over the past decade and is already an attractive option to overseas students, many of whom fly into the territory at weekends for courses on Asian investment or regional knowledge. In celebration of the programme's 10-year anniversary, Programme Director/Professor Steve DeKrey and Professor David Messick will launch their book entitled Leadership Experiences in Asia.

Nymex Removes Director From Optionable Over Chief's Jail Time, Person Says Bloomberg.com, May 15, 2007 By Matthew Laising
	The New York Mercantile Exchange, the biggest investor in Optionable Inc., removed its representative from the energy broker's board of directors after learning the former chief executive officer served time in prison, said a person with knowledge of Nymex's decision. Directors must consider how an executive's past will affect the company if disclosed, and balance that against privacy concerns, said R. Edward Freeman, director of the Olsson Center for Applied Ethics at the University of Virginia. U.S. securities rules do not automatically require felony convictions of top executives to be disclosed if they are more than five years old.
Best Business Books: Thomas Donaldson's Picks U.S. News & World Report, May 13, 2007
	Thomas Donaldson, professor, The Wharton School of the University of Pennsylvania, shares his five "Best Business Book" reading choices for managers today.
Directors and Boards e-Briefing May 7, 2007
	Calendar of Events: October 15, 2007 Business Roundtable Institute for Corporate Ethics hosts the Senior Leadership Team Ethics Seminar, a forum for senior executives to share best practices and best thinking regarding ethics. Held in Washington, D.C., the half-day session is led by the Institute's instructors who are faculty at top business schools. This program is for chief ethics officers, chief financial officers, and other C-level executives, as well as vice presidents, general counsels, corporate secretaries, and members of the board of directors. Issues addressed include how to: build and strengthen an ethical culture; develop a strategic, enterprise approach to ethics; foster trust among your firm's stakeholders; and identify issues your firm is likely to face in the next 5-10 years. Earnings Template: The CFA Centre for Financial Market Integrity (http://www.cfainstitute.org/cfacentre) and the Business Roundtable Institute for Corporate Ethics (http://www.corporate-ethics.org) jointly called on companies to improve the quality and clarity of quarterly earnings announcements by adopting a standard template for reporting quarterly earnings information.
The Honest Truth About Cheating NPR Weekend Edition, May 6, 2007 By Liane Hansen
	When 34 1st year graduate students at Duke University’s business school took their final exams in March they made a big mistake, they cheated and were caught. Officials call it the most widespread episode of cheating in the business school’s history. Liane Hansen interviews Professor Donald McCabe, Rutgers University, who says, "We’ve tried to trace it. We did a survey, I say we - a woman at Penn State by the name of Linda Trevino who’s done a lot of this work with me - and we did a survey of alumni. Our interest was in the power of honor codes, which is one of the things we’ve looked at over the years." (Also aired on WPVI-TV ABC 6 Philadelphia.)
CEO Standards CNBC, May 2, 2007 By Dan Mann and Melissa Francis
	Debating whether a CEO's private life should be held to a higher standard is the topic of this CEO Standards feature with Dean Krehmeyer, Business Roundtable Institute for Corporate Ethics executive director; Alan Murray, WSJ assistant managing editor and CNBC's Dan Mann & Melissa Francis.
Institutions Want End To Earnings Guidance Compliance Week , May 1, 2007 By Carolyn Kay Brancato
	The ultimate fear about earnings guidance is that it gives rise to a climate of “short-termism,” where investors ignore the long-term fundamental health of companies. In the summer of 2006, “Breaking the Short-Term Cycle,” was published by the CFA Institute and the Business Roundtable’s Institute for Corporate Ethics. Among other recommendations, companies were encouraged to end the practice of providing quarterly earnings guidance.
The Long View CFO Magazine , May 1, 2007 By Joseph McCafferty
	Corporate managers have long complained about the pressure to focus on the short term, but now, for the first time, critics and business groups are racing to their defense. Instead of taking long-term positions in undervalued businesses, they fixate on short-term performance and clobber companies that miss quarterly earnings forecasts. In March, the CFA Centre for Financial Market Integrity and the Business Roundtable Institute for Corporate Ethics proposed a standard template for quarterly earnings reports that would, in their view, obviate the need for earnings guidance.  (Also appeared on CNBC.)

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