What's Good for the Goose is Not Good for the Gander: Sarbanes-Oxley-Style Nonprofit ReformsMichigan Law Review (2007)
In this article, I contend that these Sarbanes-Oxley-inspired, state, nonprofit reforms, particularly the costly disclosure requirements, will be of little value in the effort to improve ethical nonprofit board governance. The article proceeds as follows. Part II provides a primer on the oversight of nonprofit organizations. Part III reviews the recent Sarbanes-Oxley-like nonprofit reforms introduced in seven states. Part IV contends that the disclosure-focused reforms, which form the bulwark of these acts, will not foster ethical nonprofit board governance. Part V argues that this failure stems from the inappropriate application of a stockholder-based, normative perspective in the nonprofit sector. The article concludes by noting that appropriating a normative construct more tailored to the nonprofit community, namely stakeholder theory, is essential to drafting effective nonprofit sector reforms in the future.
- Business Ethics,
- State Reforms
Publication DateAugust, 2007
Citation InformationLumen N. Mulligan. "What's Good for the Goose is Not Good for the Gander: Sarbanes-Oxley-Style Nonprofit Reforms" Michigan Law Review Vol. 105 (2007) p. 1981
Available at: http://works.bepress.com/lumen_mulligan/2/