美国大公司欺诈丑闻为何接连不断

Why American Large Cooperation Fraud Scandal Arose Serially?

从2002年安然公司财务造假事件到2016年富国银行账户欺诈丑闻,美国大公司欺诈丑闻接连不断。研究21世纪以来美国主要大公司欺诈丑闻后,本文发现制度的缺陷,包括不完善的公司治理机制和不合理的薪酬制度,让欺诈行为有漏洞可寻;但制度内在的诱导机制,包括监管部门执法不力,特别是华尔街"利润至上"价值观渗透至普通投资者,使得大公司欺诈丑闻不再是一个偶发现象,而成为美国当前制度下的常态;最后给出相关启示。

American large cooperation fraud scandal had arisen serially, from the Enron Incident in 2002 to Wells Fargo Bank Account fraud scandal in 2016. After analysis the main American Large Cooperation Fraud Scandals, this paper finds that, the defect of system, including imperfect corporate governance mechanisms and unreasonable executive compensation system, makes the senior executives can find loopholes for fraud. However, the induction mechanism of this system itself, including poor regulatory enforcement, especially the core value of profit in Wall Street penetrate into ordinary investor and regulatory authorities, make the Large Cooperation Fraud Scandal become a norm in current system in American rather than an accident phenomenon. Finally, this paper gives conclusions and implications.