Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism
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This paper analyzes the methods of loss concealment used by rogue traders in the Barings and Daiwa scandals. The analysis clarifies how and why these firms' top managers and home-country regulators deserve blame for allowing cumulative losses to become so large. The central point is that information
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美国国家经济研究局创建时间：
1998-12-01
