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Author: Vincenzo Bavoso
Publisher: Cambridge Scholars Publishing
ISBN: 1443864684
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
The explosion of the global financial crisis in 2007–08 reignited the urgency to reflect on the origins and causes of financial collapses. As the events in the above period triggered an economic meltdown that is still ongoing, comparisons with the Great Crash of 1929 started to abound. In particular, the externalities that a broad spectrum of societal groups had to bear as a consequence of various banking failures highlighted the necessity of a more inclusive and balanced regulation of firms whose activities impact on a wide range of stakeholders. The book is centred on the proposal of a paradigm, the “enlightened sovereign control”, that provides a theoretical, institutional and substantive framework as a response to the legal issues analysed in the book. These stem primarily from the analysis of two sequences of events (the 2001–03 wave of “accounting frauds” and the 2007–08 global crisis) which represent the background upon which modern financial scandals are explained. This is done by highlighting a number of common denominators emerging from the case studies (Enron and Parmalat, Northern Rock and Lehman Brothers) which all led to financial instability and scandals and illustrated the legal issues identified in the book. The research is grounded on the initial recognition of theoretical themes in the field of corporate and financial law, which eventually link with the more practical events examined. Through this multifaceted approach, the book contends that the occurrence of financial crises during the last decade is essentially rooted in two main problems: a corporate governance one, represented by the lack of effective control systems within large public firms; and a corporate finance one identified with the excesses of financial innovation and related abuses of capital market finance. Research conducted in this book ultimately seeks to contribute to current debates in the areas of corporate and financial law, through the proposals of the “enlightened sovereign control” paradigm.
Author: Vincenzo Bavoso
Publisher: Cambridge Scholars Publishing
ISBN: 1443864684
Category : Business & Economics
Languages : en
Pages : 325
Get Book Here
Book Description
The explosion of the global financial crisis in 2007–08 reignited the urgency to reflect on the origins and causes of financial collapses. As the events in the above period triggered an economic meltdown that is still ongoing, comparisons with the Great Crash of 1929 started to abound. In particular, the externalities that a broad spectrum of societal groups had to bear as a consequence of various banking failures highlighted the necessity of a more inclusive and balanced regulation of firms whose activities impact on a wide range of stakeholders. The book is centred on the proposal of a paradigm, the “enlightened sovereign control”, that provides a theoretical, institutional and substantive framework as a response to the legal issues analysed in the book. These stem primarily from the analysis of two sequences of events (the 2001–03 wave of “accounting frauds” and the 2007–08 global crisis) which represent the background upon which modern financial scandals are explained. This is done by highlighting a number of common denominators emerging from the case studies (Enron and Parmalat, Northern Rock and Lehman Brothers) which all led to financial instability and scandals and illustrated the legal issues identified in the book. The research is grounded on the initial recognition of theoretical themes in the field of corporate and financial law, which eventually link with the more practical events examined. Through this multifaceted approach, the book contends that the occurrence of financial crises during the last decade is essentially rooted in two main problems: a corporate governance one, represented by the lack of effective control systems within large public firms; and a corporate finance one identified with the excesses of financial innovation and related abuses of capital market finance. Research conducted in this book ultimately seeks to contribute to current debates in the areas of corporate and financial law, through the proposals of the “enlightened sovereign control” paradigm.
Author: Kenneth R. Gray
Publisher: Paragon House Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
The Gray, Frieder, and Clark author team does a terrific job integrating
Author: Howard M. Schilit
Publisher: McGraw Hill Professional
ISBN: 0071423397
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
Techniques to uncover and avoid accounting frauds and scams Inflated profits . . . Suspicious write-offs . . . Shifted expenses . . . These and other dubious financial maneuvers have taken on a contemporary twist as companies pull out the stops in seeking to satisfy Wall Street. Financial Shenanigans pulls back the curtain on the current climate of accounting fraud. It presents tools that anyone who is potentially affected by misleading business valuationsfrom investors and lenders to managers and auditorscan use to research and read financial reports, and to identify early warning signs of a company's problems. A bestseller in its first edition, Financial Shenanigans has been thoroughly updated for today's marketplace. New chapters, data, and research reveal contemporary "shenanigans" that have been known to fool even veteran researchers.
Author: Petter Gottschalk
Publisher: Springer Nature
ISBN: 3030514528
Category : Social Science
Languages : en
Pages : 147
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Book Description
This brief extends studies on how corporations respond to scandals by examining the evolution of the accounts that corporate agents develop after a scandal becomes public. Guided by the theory of accounts and a recently developed perspective on crisis management, its examines how the accounts developed by thirteen corporations caught up in highly publicized scandals changed from the time of initial exposure to the issuance of an investigative report. This brief continues the discussion of the broader managerial and social implications of the analysis of accounts, and analyses their effect on our understanding of the ability of corporations to weather serious scandals. It includes four case studies; from Switzerland, Moldova, Denmark, and Norway respectively.
Author: Mr.Stijn Claessens
Publisher: International Monetary Fund
ISBN: 1475561008
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Author: Gerard M. Zack
Publisher: John Wiley & Sons
ISBN: 1118301552
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
Valuable guidance for staying one step ahead of financial statement fraud Financial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. Financial Statement Fraud: Strategies for Detection and Investigation fills that need. Describes every major and emerging type of financial statement fraud, using real-life cases to illustrate the schemes Explains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetrated Provides numerous ratios, red flags, and other techniques useful in detecting financial statement fraud schemes Accompanying website provides full-text copies of documents filed in connection with the cases that are cited as examples in the book, allowing the reader to explore details of each case further Straightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues.
Author: Robert Pasley
Publisher: Routledge
ISBN: 1351531794
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
In the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1.1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. This was all hidden from the bank's attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To keep the examiners at bay, the bank insiders did everything possible to avoid giving them access to documents they were entitled to see, documents they knew would sink their scheme. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch. Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learned and still can be learned about how banks operate, how federal banking regulators supervise financial institutions, how agencies interact with one another, and how such failures can be avoided in the future.
Author: Jennifer C. Noble
Publisher: University of California Press
ISBN: 0520302885
Category : Social Science
Languages : en
Pages : 192
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Book Description
Examining a shocking array of fraud, corruption, theft, and embezzlement cases, this vivid collection reveals the practice of detecting, investigating, prosecuting, defending, and resolving white-collar crimes. Each chapter is a case study of an illustrative criminal case and draws on extensive public records around both obscure and high-profile crimes of the powerful, such as money laundering, mortgage fraud, public corruption, securities fraud, environmental crimes, and Ponzi schemes. Organized around a consistent analytic framework, each case tells a unique story and provides an engaging introduction to these complex crimes, while also introducing students to the practical aspects of investigation and prosecution of white-collar offenses. Jennifer C. Noble’s text takes students to the front lines of these vastly understudied crimes, preparing them for future practice and policy work.
Author: Brandon Rottinghaus
Publisher: Cambridge University Press
ISBN: 1107102979
Category : Law
Languages : en
Pages : 231
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Book Description
This book investigates the role of executive scandals in the contemporary American political landscape.
Author: George Gilder
Publisher: Simon and Schuster
ISBN: 1621575667
Category : Business & Economics
Languages : en
Pages : 142
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Book Description
"Why do we think governments know how to create money? They don't. George Gilder shows that money is time, and time is real. He is our best guide to our most fundamental economic problem." --Peter Thiel, founder of PayPal and Palantir Technologies "Thirty-five years ago, George Gilder wrote Wealth and Poverty, the bible of the Reagan Revolution. With The Scandal of Money he may have written the road map to the next big boom." --Arthur B. Laffer, coauthor of the New York Times bestseller An Inquiry into the Nature and Causes of the Wealth of States "Gilder pushes us to think about the government monopoly on money and makes a strong case against it. If you believe in economic freedom, you should read this book." --Senator Jim DeMint, president of The Heritage Foundation As famed economist and New York Times bestselling author George Gilder points out, “despite multi-billion dollar stimulus packages and near-zero interest rates, Wall Street recovers but the economy never does.” In his groundbreaking new book, The Scandal of Money, Gilder unveils a radical new explanation for our economic woes. Gilder also exposes the corruption of the Federal Reserve, Washington power-brokers, and Wall Street’s “too-big-to-fail” megabanks, detailing how a small cabal of elites have manipulated currencies and crises to stifle economic growth and crush the middle class. Gilder spares no one in his devastating attack on politicians’ economic policies. He claims that the Democrats will steer us to ruin – but points out that Republicans are also woefully misguided on how to salvage our economic future. With all major polls showing that voters rank the economy as one of the top three “most important problems” facing the nation, Gilder’s myth-busting, paradigm-shifting recipe for economic growth could not come at a more critical time. In The Scandal of Money, the reader will learn: Who is to blame for the economic crippling of America How the new titans of Wall Street value volatility over profitability Why China is winning and we are losing Who the real 1% is and how they are crushing the middle class The hidden dangers of a cashless society What Republicans need to do to win the economic debate—and what the Democrats are doing to make things worse
