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Public companies now face constant pressure to meet investor expectations. A company must continually deliver strong short-term performance every quarter to maintain its stock price. This valuation treadmill creates incentives for corporations to deceive investors. Published more than twenty years after the passage of Sarbanes-Oxley, which requires all public companies to invest in measures to ensure the accuracy of their disclosures, The Valuation Treadmill shows how securities fraud became a major regulatory concern. Drawing on case studies of paradigmatic securities enforcement actions involving Xerox, Penn Central, Apple, Enron, Citigroup, and General Electric, the book argues that corporate securities fraud emerged as investors increasingly valued companies based on their future performance. Corporations now have an incentive to issue unrealistically optimistic disclosure to convince markets that their success will continue. Securities regulation must do more to protect the integrity of public companies from the pressure of the valuation treadmill.
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In Pentecostal Hermeneutics: A Reader Lee Roy Martin brings together fourteen significant publications on biblical interpretation, along with a new introduction to Pentecostal hermeneutics and an extensive up-to-date bibliography on the topic. Organized chronologically, these essays trace the development of Pentecostal hermeneutics as an academic discipline. The concerns of modern historical criticism have often stood at odds with Pentecostalism’s use of Scripture. Therefore, over the last three decades, Pentecostal scholars have attempted to identify the unique characteristics and interpretive practices of their tradition and to offer constructive proposals for a Pentecostal hermeneutic that would be critically valid and, at the same time, be consistent with the Pentecostal ethos and conducive for the continued development of the global Pentecostal movement. Contributors include: Rickie D. Moore, John Christopher Thomas, Jackie David Johns, Cheryl Bridges Johns, John W. McKay, Robert O. Baker, Scott A. Ellington, Kenneth J. Archer, Robby Waddell, Andrew Davies, Clark H. Pinnock, and Lee Roy Martin.