财务欺骗:雷曼兄弟偿付能力错报分析

IF 1.2 Q3 BUSINESS, FINANCE
Kazi Saidul Islam, Mohamed Omran
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引用次数: 0

摘要

本研究考察了雷曼兄弟偿付能力的失实陈述,重点关注金融史上的一个关键时刻。分析表明,对会计等式的组成部分进行更仔细的评估表明,杠杆作用显著,这对理解雷曼的整体偿付能力至关重要。相比之下,流动性只与短期偿付能力有关。这些发现是通过代理理论和积极会计理论的视角来看待的,特别是关于管理者的自身利益和公司治理在减少导致财务报告中重大错报的管理机会主义方面的作用。有人指出,雷曼首席执行官通过发放奖金和出售股权的方式,收回了相当多的资金。对债务-股权假设的检验表明,雷曼操纵偿付能力数据,以掩盖巨额债务导致的过度杠杆。这项调查突出了欺诈性金融行为可能产生的广泛影响,强调了银行业透明度和问责制的必要性。了解这些错误陈述对于防止未来的危机和培育一个更合乎道德的金融环境至关重要。此外,治理不力和审计不足操纵了会计交易,掩盖了雷曼的偿付能力风险。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

Financial Deception: Analyzing the Solvency Misstatement at Lehman Brothers

Financial Deception: Analyzing the Solvency Misstatement at Lehman Brothers

This study examines the misrepresentation of solvency at Lehman Brothers, focusing on a pivotal moment in financial history. The analysis reveals that a closer evaluation of the components of the accounting equation indicates significant leverage, which is critical to understanding Lehman's overall solvency. In contrast, liquidity pertains only to short-term solvency. The findings are viewed through the lens of agency theory and insights from positive accounting theory, particularly about managers’ self-interest and the role of corporate governance in mitigating managerial opportunism that led to significant misstatements in financial reports. It was noted that Lehman's CEO withdrew considerable amounts through bonus compensations and equity sales. Testing the debt-equity hypothesis showed that Lehman manipulated solvency figures to obscure excessive leverage resulting from substantial debts. This investigation highlights how deceptive financial practices can have extensive repercussions, underscoring the need for transparency and accountability within the banking sector. Understanding these misstatements is essential to prevent future crises and foster a more ethically sound financial environment. Additionally, ineffective governance and inadequate audits manipulated accounting transactions that obscured Lehman's solvency risks.

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来源期刊
CiteScore
2.30
自引率
7.10%
发文量
69
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