Includes bibliographical references (pages 149-179) and index.
Contents:
1. Introduction -- 2. Xerox and the pressure to meet projections -- 3. Penn Central and the decline of managerialism -- 4. Apple and the controversy of projections litigation -- 5. Enron and Sarbanes-Oxley -- 6. Citigroup and the Financial Crisis of 2008 -- 7. General Electric and the problem of earnings management -- 8. The future of securities fraud regulation -- 9. Conclusion.
Summary:
"This book 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."-- Provided by the publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.