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Investigation of the causes of failure of Lehman Brothers with special reference to agency problems
Finance & Accounting
Pages 34 (8534 words)
UNIVERSITY OF Department of accounting and Finance MSc Finance 17th Intake REGISTRATION NO. 200868615 Investigation of the causes of failure of Lehman Brothers with special reference to agency problems Research Project three Limnios Efstratios Submitted in partial fulfilment of the requirements for the degree of M.Sc.
I declare that this document embodies the results of my own work and that it has been composed by myself. Following normal academic conventions, I have made due acknowledgement of the work of others. Signed Date: 24.12.2012 Abstract This research study has been designed to discuss the possible reasons behind the filing for bankruptcy by Lehman Brothers in the year 2008, with a special reference to agency problems in the company that might have contributed to its collapse. Lehman Brothers was amongst the largest investment bankers at the time it was forced to file for bankruptcy and its collapse had significant consequences for the operation financial markets. This research study mainly focuses on answering the question related to possible agency problems that were instrumental in the failure of Lehman Brothers. It also evaluates other possible reasons of its failure. The research study was conducted through a literature review and the case study research method. The report relies primarily on secondary research, making use of the existing literature from various articles, journals, and newspapers. The findings of this study suggested that agency problems played a significant the fallout of Lehman Brothers with the company managers involved in taking several risky investment decisions, less on behalf of the owners of the company and more in the interests of top management. ...
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