Case of Enron: Failure of Measurement System?
نویسنده
چکیده
The current financial crisis reminds us about previous economic crisis that have remained in history, as well as of large bankruptcies that were largely debated within trade literature, which themselves also comprise similarity elements with nowadays situation. We therefore couldn’t agree more with George Bernard Shaw who used to say that “We learn from history that we learn nothing from history”. This hypothesis that would actually be pointless for us to try to validate, being demonstrated repeatedly over time, is even more obvious when it comes to financial markets that seem to have a tendency of learning the same lesson over and over again. This in fact we believe represents one of their most intriguing characteristic. Key-Words: Financial Crisis, Accounting Scandals, Fair Value, Enron, Bankruptcy, Financial Instruments
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