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Essay / Research Paper Abstract
This 11 page paper discusses the issue of corporate governance and how this contributed to the collapse of such companies as World Com and Enron. Furthermore, this paper focuses on accounting proceedures. Bibliography lists 4 sources.
Page Count:
11 pages (~225 words per page)
File: D0_GSWorldc.rtf
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Unformatted sample text from the term paper:
other regularly in their effort to make some sense of the chaos. Furthermore, the headlines seem to regularly bear news of more company investigations which follow in the footsteps
of companies such as Enron and Worldcom. Most recently, even Martha Stewart has made headlines repeatedly for the questionable business practices of her company. Therefore, one cannot help but
realize the huge impact this is having on our economy. When companies like Enron and Worldcom fall we must attempt understanding since the impact of such events is literally
enormous. Corporate Governance and the Collapse of Enron and Worldcom Corporate governance is something which is becoming more and more a part of the vocabulary of every day
people. Clearly, it seems as if a day doesnt go by that news of another major company and/or corporation is being investigated for some major accounting transgression or some
breach of ethics. In this already concerning economy, this spells Trouble. And, let us not forget that issues such as these are not merely issues of ethics alone.
Real people are involved and real lives are effected. When Enron collapsed, thousands lost their jobs, which means their families were greatly impacted. There is a ripple
effect to such things, and these situations are no different. When people lose jobs, families suffer, economies suffer, communities suffer. The effects are real. According to AFL-CIO President
John Sweeney (2002), "American consumers can shop with more assurance of quality and safety at their corner grocery store than American investors have when they shop for equities in our
stock market". This is clearly a sad state of affairs. So what then, is the cause of such disasters? What is happening? Sweeney (2002) goes on to
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