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|Title:||Sell-side security analysts : re-reporting of Enron Corporation Fraudulent financial data|
Siti-Nabiha, A. K.
|Abstract:||Listed companies that successfully deceive investing public and issue false financial reports have been observed in the financial markets around the world. The consequences of this practice are devastating on the investing community as well as on the society as a whole. Sell-side security analysts, among other gatekeepers in the financial markets, have been criticized. They should examine financial data issued by listed companies to assure investing public about the reliability of published data. So, to understand how listed companies have succeeded in issuing fraudulent financial reports in the presence of gatekeepers such as sell-side analysts, a well-known fraud case was chosen, i.e. Enron Company. During Enron fraud period, 1997-2001. The research paper examined how sell-side security analysts processd Enron misleading financial statements. The research method adopted to analyze analysts report was qualitative content analysis guided by Strauss and Corbin (1990,1998) version of grounded theory Re-reporting was one of the main results generated through the analysis process. It is meant by re-reporting is that analysts were re-reporting what had been reported by Enron without due analysis or scepticism. Additionally, based on the findings of the analysis and relevant literature, two propositions have been developed for further research.|
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