Miriam Gerstein’s scientific contributions

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Publications (20)


EVALUATING THE TRUE PERFORMANCE OF LEADERS
  • Article

December 2023

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5 Reads

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6 Citations

Hershey H. Friedman

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Miriam Gerstein

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Sarah Hertz

We live in the age of post-truth where lying has become so acceptable that we have numerous euphemisms for deceit. It has become difficult to evaluate the true performance of leaders since they have no problem taking credit for the work of others and spinning the truth so that it appears that they have done a stellar job. Many leaders are more interested in form than substance. This paper discusses the problem of evaluating the performance of corporate leaders and provides a new paradigm for rating CEOs that includes factors that provide long-term value such as efficiency, creating meaningful work, employee engagement, customer satisfaction, and diversity.


IS SHORT-TERM THINKING DESTROYING CAPITALISM? VIGNETTES FOR TEACHING BUSINESS ETHICS

December 2020

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1 Read

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8 Citations

This paper will provide faculty who are interested in teaching ethics with several vignettes that may be easily incorporated into any course. The purpose of these real-life, brief vignettes is to encourage students to think about the consequences of decisions. Sometimes, focusing on profits andignoring the ethical implications may have far-reaching consequences. Whereas some cases used in business ethics courses aim to do this, this paper provides numerous brief vignettes to show the considerable consequences of unethical and neglectful conduct in running an organization.


A NEW CORPORATE ETHICS AND LEADERSHIP PARADIGM FOR THE AGE OF CREATIVITY
  • Article
  • Full-text available

January 2017

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503 Reads

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6 Citations

We are no longer an industrial economy characterized by assembly lines; we are now in a knowledge economy where creativity is what matters and the old ways of running a firm simply do not work. This paper discusses a new paradigm for corporate ethics and leadership that includes factors that provide long-term value such as employee engagement, building a learning organization, corporate social responsibility, and the reputation of the organization.

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LEADING WITH COMPASSION: THE KEY TO CHANGING THE ORGANIZATIONAL CULTURE AND ACHIEVING SUCCESS

January 2017

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3,628 Reads

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22 Citations

There is a leadership crisis in the world today that is affecting government, business, and education. Young people and Millennials are especially troubled over the lack of values displayed by leaders. This paper demonstrates why it is important for organizations to practice compassion, empathy, and caring and make them core values. This means that organizations that want to thrive must be run by compassionate leaders. A culture of compassion and caring must permeate the entire organization. This is especially crucial in toxic organizations and/or where employees are disengaged


Are we Wasting our time Teaching Business Ethics?

October 2016

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234 Reads

The Great Recession of 2008 had a devastating effect on the world economy. Millions of jobs were lost, trillions in financial assets evaporated, and millions of people lost their homes. Great companies such as Lehman Brothers went bankrupt and many others needed to be bailed out by the government. One would think that an important lesson learned from the carnage is that greed is not good: Our firms need to be headed by trustworthy, upright leaders.The reality is that the corporate world, led by greedy and self-absorbed CEOs, was heading down a treacherous path for more than 30 years. http://clsbluesky.law.columbia.edu/2016/10/21/are-we-wasting-our-time-teaching-business-ethics/


Rethinking the Meaning of Self-Interest, Rational Choice, Growth and Happiness: How the Misunderstanding of These Concepts Caused Misery for Millions

September 2016

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660 Reads

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1 Citation

SSRN Electronic Journal

This paper examines four terms that are used a great deal by economists and demonstrates that they are often misunderstood. Not fully comprehending the meaning of these terms can result in serious problems for society. Thus, Greenspan admitted that not knowing how self-interest works resulted in the Great Recession of 2008. Other terms analyzed in this paper include rational choice, growth, and happiness.


Are We Wasting Our Time Teaching Business Ethics? Ethical Lapses Since Enron and the Great Recession

September 2016

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844 Reads

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6 Citations

SSRN Electronic Journal

This paper examines whether corruption and dishonesty are still major issues after huge debacles such as Enron and the Great Recession of 2008. Sadly, little has changed and the moral compass is broken at many organizations; greed still reigns. Examples from the financial, automobile, retailing, and accounting industries are provided to demonstrate that many leaders have no qualms about selling dangerous products or using dubious accounting to maximize profit. Apparently, little has changed: organizational leaders and boards may be paying lip service to the importance of integrity and ethics but are not practicing what they preach.



A New Paradigm for Evaluating CEOs in the Age of Creativity

April 2016

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1,169 Reads

SSRN Electronic Journal

We are no longer an industrial economy characterized by assembly lines; we are now in a knowledge economy where creativity is what matters and the old ways of running a firm simply do not work. Using the value of the stock as a way of measuring CEO performance makes no sense and can actually destroy an organization. This paper discusses a new paradigm for rating CEOs that includes factors that provide long-term value such as employee engagement, diversity, building a learning organization, corporate social responsibility, and the reputation of the organization.


What Kind of Leaders are Needed for Today's Accounting Firms?

January 2016

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1,217 Reads

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2 Citations

This paper attempts to answer the question: What kind of leaders are needed by accounting firms? It is no secret that changing the trajectory of an organization that is on the wrong path is not easy. In the knowledge economy, however, not being able to adapt quickly can be dangerous. This is why it is important for an organization to have the right kind of leader as well as the right kind of employees. The ideal leader must be one who has a vision and knows how to communicate it, believes in servant leadership, wants to set an ethical tone at the top, cares about all stakeholders, believes in maximizing client satisfaction, encourages teamwork by building a learning organization, understands the importance of diversity, supports CSR, and wants to build a strong, positive reputation for his/her organization. Indubitably, it is time to do away with the extremely dangerous goal of maximizing shareholder value and not hire leaders who believe in this philosophy.


Citations (12)


... An internal Ford memo (known as the infamous Pinto memo) was leaked to Mother Jones Magazine that proved that the company knew of the problems with the fuel tank before the Pinto was introduced but performed a cost/benefit analysis that suggested that it was cheaper to pay liability for burn deaths (cost of human life was pegged at $200,000) and injuries ($67,000) rather than spending $11 per car to correct the defect for more than 12 million automobiles. More than two dozen people were killed or injured as a result of the Pinto's fatal design flaw before the car was recalled by Ford (Friedman et al., 2020). ...

Reference:

Deadly Consequences of Emphasizing Profits over Human Life: How Corporate Greed Has Caused the Death of Millions
IS SHORT-TERM THINKING DESTROYING CAPITALISM? VIGNETTES FOR TEACHING BUSINESS ETHICS
  • Citing Article
  • December 2020

... om accounting's three-way match process used in purchasing to carefully outline problems and challenges in US healthcare. Discussion and ways to adapt the popular accounting framework for healthcare are presented within the historical context of the changing healthcare reimbursement and payment process. Areas for future research are also included. Miriam Gerstein and Hershey H. Friedman. (2015). Using Disasters to Teach Ethics in Accounting and Business. Journal of Accounting,Ethics and Public Policy,16(3), 427-470 http://ssrn.com/abstract=2998222 ...

Using Disasters to Teach Ethics in Accounting and Business

... Strong competitive drivers are causing significant changes in the healthcare delivery industry, prompting existing organizations to investigate how to increase EIWB to accelerate innovative approaches to meet market demands, build customer relationships, and increase performance, market share, and profitability while lowering the cost of doing business (Gerstein and Friedman 2017). Organizational leaders must foster an innovative (constant research and development) culture that responds to fluctuating market demand for the organization to survive (A. ...

A NEW CORPORATE ETHICS AND LEADERSHIP PARADIGM FOR THE AGE OF CREATIVITY

... This is grossly wrong. The ideal leaders expected in the knowledge society must be those who believe in service as leaders who set ethical practice at the top, have a vision and know how to communicate it, care about people and their success, believe in empowering and maximizing employees' satisfaction and encouraging teamwork, and believe they have the duty of stewardship, considering the higher values of truth, justice, peace, compassion, and human dignity as found in numerous studies (Gerstein et al. 2016;Levine 2015;Greenleaf 1978;Greenleaf 1977;Hess 2013;Spears 2010;Lynch and Friedman 2013). This is certainly true for application in universities where the major asset is the intellectual abilities of its lecturers. ...

What Kind of Leaders are Needed for Today's Accounting Firms?

... These authors, furthermore, examine how compassion could manage to have a beneficial effect on organizations, employees and clients. According to Friedman and Gerstein (2017), compassion can be a powerful ingredient that makes an organization thrive. ...

LEADING WITH COMPASSION: THE KEY TO CHANGING THE ORGANIZATIONAL CULTURE AND ACHIEVING SUCCESS

... Organizational culture matters for organizational performance because it represents a system of control consisting of shared norms and expectations that define the conduct of organizational members, aligning behavior without extensive monitoring and sanction systems, and allowing members' sense of autonomy to be preserved (Chatman et & Chatman, 1996). For example, an organization's culture can signal that money-making is to be valued above all other concerns, including ethical ones (Friedman & Gerstein, 2016;Glaser et al., 2016) or, alternatively, that community concerns and employee wellbeing are paramount (Wilburn & Wilburn, 2014). The organization's culture defines which people will be rewarded, how resources will be allocated, and what characteristics define competence, reputation, and esteem; in these ways and others, culture represents an organization-level power system. ...

Are We Wasting Our Time Teaching Business Ethics? Ethical Lapses Since Enron and the Great Recession

SSRN Electronic Journal

... Yet, the purpose of higher education to instill subject matter expertise into learners is no longer enough. The evolution of societal demands has moved universities to the much broader arena of preparing well-rounded adults who are competitive in the global job market (Gerstein & Friedman, 2016). Universities are expected to create career-ready global citizens, who can effectively navigate the transition from the classroom to the workplace. ...

RETHINKING HIGHER EDUCATION: FOCUSING ON SKILLS AND COMPETENCIES

... Given the development of increasingly advanced times, the accounting profession has become so attached to technology that manual recording is no longer used. As a millennial professional accountant, the challenges faced are not only required to have creativity, critical thinking, and innovation [9]. Rather, competent abilities in the use of technology-based software. ...

The Millennial Accountant
  • Citing Article
  • September 2014

... Kim, Natter, & Spann, 2009). This mechanism has been already tested in many industries (for example, training services, catering businesses, the music industry, the publishing industry and entertainment) (Tuttle, 2014), but its characteristics and conditions for implementation are neither thoroughly recognised by practitioners, which is indicated by the ongoing discussion among managers (compare: Bertini & Koenigsberg, 2014), nor by researchers (compare: Friedman & Gerstein, 2014). The state of affairs described above indicates the requirement to identify the knowledge advancement in a systematic way and, consequently, the general purpose of this article is to identify the level of literature advancement regarding PWYW and to determine desirable directions for knowledge development in this field. ...

Innovative Pricing Strategies: A Primer

SSRN Electronic Journal