Corporate Conflicts of Interest
综述公司治理中的利益冲突，涵盖审计师、董事会、分析师、投资银行、监管者、管理层、律师和投资者，强调冲突的多面性及羊群行为在理解周期性失败中的作用。
This paper surveys conflicts of interest in the corporate governance arena, with emphasis on auditors, boards of directors, analysts and investment bankers, regulators, management, attorneys and investors. Enron provides a host of examples as well. I stress the multifaceted nature of these conflicts, and the fact most research looks at some conflicts, such as auditor independence, absent the larger setting and potential interactions among various players. I further speculate herding behavior is an important explanatory device in understanding periodic failures.