Greed and Corporate Failure: The Lessons from Recent Disasters

Choice Outstanding Academic Title 2006

'Stewart Hamilton and Alicia Micklethwait provide the most comprehensive view yet of the many corporate failures that occurred in the early twenty-first century. Written in clear and concise prose, Greed and Corporate Failure illuminates the root causes of the problems faced by corporations on both sides of the Atlantic. With candour, precise logic, and uncommon pragmatism, the authors give the reader a practical set of recommendations to prevent their recurrence. It is a 'must read' book!' - Bill George, Author of Authentic Leadership and former Chairman and CEO of Medtronic

'Anyone interested in value creation - whether management or investor - will find this analysis of failure deeply instructive. Sustained success comes from avoiding the causes of failure that Hamilton and Micklethwait identify.' - Donald H. Brydon, CBE, Chairman of AXA Investment Managers, Smiths Group plc and the London Metal Exchange

'Hamilton and Micklethwait take a cool and sceptical approach to the stories of Enron, Parmalat, Tyco, and other corporate disasters. This is the first time we have seen such a convincing yet fascinating explanation of what lies behind the latest crisis of capitalism. This is an authoritative analysis which deserves to be read by all those interested in knowing how businesses go wrong.' - Joanna James, Managing Director, Advent International

'By sharing some of the lessons and challenges of Greed and Corporate Failure, the authors help develop one of the most regarded leadership skills - that of 'seeing reality in the eye'. It will spark useful thoughts to what is needed not to repeat some of the mistakes of the past.' - Paul Polman, CFO, Nestle SA

'At last, a book that analyses the corporate failures of recent years and draws general conclusions. We learn that accounting irregularities are often a result of, not the root cause of, failure which usually stems from corporate cultural weakness. Stewart Hamilton and Alicia Micklethwait have managed to produce a serious academic analysis as a rattling good read. Board rooms around the world should have this book as prescribed reading.' - Sir Robert Smith, Chairman, Scottish and Southern Energy plc and The Weir Group plc

'Would you like to know why so many firms with household names have gone under? Read this book. The businesses are very different but the answers are remarkably similar and not what you probably thought. It is not a technical book and the authors have the courage not to pull any punches. Enjoy it.' - Stuart Wheeler, Founder and retired Managing Director of IG Index

'A most thought provoking review of a very topical subject. A must for professionals and for all investors. I commend this book, particularly to students who intend to make a career in the business world' - Christopher Reeves, former Chairman, Merrill Lynch Europe, Middle East and Africa.

'The authors...have produced a readable and authoritative account of corporate failure and its causes. It will be an excellent addition to the bookshelf of anyone who wishes to understand the root causes of corporate decline and failure.' - Edge Magazine