An “American Dream” theory of corporate executive Fraud |
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Authors: | Freddie Choo Kim Tan |
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Institution: | aDepartment of Accounting, College of Business, San Francisco State University, 1600 Holloway Avenue, San Francisco, CA 94132, United States;bDepartment of Accounting & Finance, College of Business, California State University Stanislaus, 801 Monte Vista Avenue, Turlock, CA 95382, United States |
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Abstract: | In this paper, we first describe a “Broken Trust” theory that was introduced by Albrecht el al. Albrecht, W. S., Albrecht, C. C., & Albrecht, C. O. (2004). Fraud and corporate executives: Agency, Stewardship and Broken Trust. Journal of Forensic Accounting, 5, 109–130] to explain corporate executive Fraud. The Broken Trust theory is primarily based on an “Agency” theory from economic literature and a “Stewardship” theory from psychology literature. We next describe an “American Dream” theory from sociology literature to complement Albrecht el al.'s (2004) Broken Trust theory. Like the Broken Trust theory, the American Dream theory relates to a “Fraud Triangle” concept to explain corporate executive Fraud. Finally, we provide some anecdotal evidence from recent high profile corporate executive Fraud to explore the American Dream theory. We conclude our thoughts on corporate executive Fraud from a teaching perspective. |
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Keywords: | Corporate executive Fraud American Dream theory Broken Trust theory |
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