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77 U. Cin. L. Rev. 523 (2008-2009)
Corporate Policing and Corporate Governance: What Can We Learn from Hewlett-Packard's Pretexting Scandal

handle is hein.journals/ucinlr77 and id is 527 raw text is: CORPORATE POLICING AND CORPORATE GOVERNANCE: WHAT CAN WE LEARN FROM HEWLETT-PACKARD'S PRETEXTING SCANDAL? Miriam Hechler Baer* INTRODUCTION ........................................................................... 524 I. THE ORIGINS OF HP's PRETEXTING PROBLEMS ........................... 528 II. TRACKING THE MOVE FROM GOVERNANCE TO POLICING, AND FROM COMPLIANCE TO DECEPTION ..................................... 534 A. Alternate Theories of Corporate Governance ...................... 537 1. Classical Corporate Governance ............................. 537 2. The Cultural Theory of Corporate Governance ...... 540 3. Enron and the Convergence of Classical and Cultural Governance ............................................... 546 B. Corporate Law Enforcement and Deception ....................... 555 1. How the Government Obtains Information ............ 556 2. Information Flow within the Corporation ............... 562 3. Deception and Corporate Policing .......................... 568 C. The Costs of Deception-fueled Enforcement ........................ 570 1. A buse of Pow er ....................................................... 571 2. Signaling, Reciprocity, and Informal Social C ontrol. ................................................................. 573 3. Collective Action and Risk-Taking ........................ 576 4. Concluding Thoughts on Deception's Costs in the Corporate Workplace .................................... 578 III. CORPORATE POLICING, CORPORATE GOVERNANCE, AND THE B OARD ......................................................................... 579 A. Researching the Effect of Corporate Policing on Corporate Governance and Culture .................................... 580 B. Recognizing the Gap in Corporate Law Enforcement ......... 581 IV . C ON CLU SION .............................................................................. 582 Brooklyn Law School, Assistant Professor; J.D. 1996, Harvard Law School; A.B. 1993, Princeton University; Assistant United States.Attomey, Southern District of New York 1999-2004 and Assistant General Counsel for Compliance, Verizon, 2004-2005. The author gratefully thanks Barbara Black and the participants in the University of Cincinnati College of Law's Symposium on The Dysfunctional Board: Causes and Cures, as well as Cindy Estlund, Harry First, Roberta Karmel, Robert Rhee, and the NYU Lawyering Scholarship Colloquium for valuable feedback. The author also thanks Dean Joan Wexler and Brooklyn Law School and Peggy Cooper Davis and the NYU Lawyering Program for their respective support for this project. Excellent research assistance was provided by Jesse Jensen and John Michael McHugh.

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