Regulation of Ethics: Microsoft's corporate governance system

Many professionals believe it is impossible to regulate ethics. Yet the SEC and other federal agencies provide rules, regulations, and laws surrounding corporate governance. How effective are the legal processes in regulating corporate governance? Provide an example.

Several laws, most recently Sarbanes-Oxley, have provided provisions requiring high ranking officials to certify that they have acted ethically in corporate governance and financial reporting. How effective are such laws in protecting the public? Please cite specific examples.

Executive officers within an organization will often feel compelled and tempted to emphasize short term results -- net income for the current year -- over long term success and company survival. Why would they be so inclined and what are the ethical implications of overemphasizing short-term results over long term success and solvency?

What are the ethical implications of the Microsoft corporate governance systems? How could Microsoft improve corporate governance?