Greed and Corporate Failure

STEWART HAMILTON has been Professor of Accounting and Finance at IMD, Switzerland since 1981. A graduate of the University of Edinburgh, UK, he is a member of the Institutes of Chartered Accountants of Scotland, of Alberta and of Ontario. Formerly a senior partner of a UK national accounting firm, he has extensive consulting experience with a wide range of major European companies. He has contributed to many books and other publications and has written prize winning cases on the failures of Barings and Enron. ALICIA MICKLETHWAIT is a Graduate of the University of Oxford, a member of the Chartered Institute of Management Accountants and has an MBA from IMD. She has held accounting and commercial positions in industry and worked as a member of the acquisition and internal audit team of an American owned multinational. She co-wrote the prize winning case study of the collapse of Barings Bank.

Foreword Preface Acknowledgements Introduction Barings and Allied Irish Bank: Lessons Ignored Enron: Paper Profits, Cash Losses WorldCom: Disconnected Tyco: Greed, Hubris and the $6000 Shower Curtain Marconi: Establishment to Wunderkind to Basketcase Swissair: Crashed and Burned Royal Ahold: Shopped till he Dropped Parmalat: Milking the System Conclusions Epilogue List of Abbreviations Glossary Index