com/locate/jaccpubpol Investor relations‚ reputational bonding‚ and corporate governance: The case of Royal Ahold Abe de Jong a‚ Douglas V. DeJong b‚*‚ Gerard Mertens a‚ Peter Roosenboom a b a Department of Financial Management‚ RSM Erasmus University‚ Netherlands Tippie College of Business‚ University of Iowa‚ Iowa City‚ IA 52242‚ United States Abstract Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures‚ suffering
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No. 2005–57 ROYAL AHOLD: A FAILURE OF CORPORATE GOVERNANCE AND AN ACCOUNTING SCANDAL By Abe de Jong‚ Douglas V. DeJong‚ Gerard Mertens‚ Peter Roosenboom March 2005 ISSN 0924-7815 Royal Ahold: A Failure of Corporate Governance and an Accounting Scandal Abe de Jong* Department of Financial Management Erasmus University Rotterdam a.jong@fbk.eur.nl Douglas V. DeJong Tippie College of Business University of Iowa douglas-dejong@uiowa.edu Gerard Mertens Department of Financial Management Erasmus
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last few decades there have been a number of cases of high profile corporate collapses and fraud scandals. In essence‚ the unethical behaviour of corporations affects us all‚ such as shareholders’ lost financial investments‚ employees who lost their jobs‚ other companies that provided goods and services to the company‚ as well as the economic impact on domestic and international communities. In this paper I will focus on the case study of Royal Ahold and the large accounting fraud that took place
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EDUCATION Vol. 22‚ No. 4 November 2007 pp. 641–660 Europe’s Enron: Royal Ahold‚ N.V. Michael C. Knapp and Carol A. Knapp ABSTRACT: Royal Ahold‚ N.V.‚ is a large multinational company based in The Netherlands that was founded in 1887 by Albert Heijn. Three generations of the Heijn family oversaw the company’s retail grocery business. In 1989‚ the company hired a professional management team. The new management team expanded Royal Ahold’s operations by purchasing grocery chains around the globe‚
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Ahold: Royal Dutch Disaster Session 7 Management Accounting & Controls Date 24-Feb-03 Issue: $500 million fraud What: Global food retailer with over 9‚000 stores and 278‚000 employees in 4 continents 2002 Sales -72 billion Euros up from 66 billion in 2001 Current outstanding loans of 13 billion euros due to 7 years of acquisitions People: Cees Van der Hoeven – CEO since 1993 (joined Ahold’s executive boar as CFO in 1985) Michiel Muers 1997 – CFO graduated in business studies and economics Jim
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Ahold vs. Tesco Case Analysis Group 5: Rayan Alqubaysi‚ Yuchen (Jason) Jin‚ Laura Payne‚ Lei Wang Introduction of Case ● Alpha Plus Asset Management- investment decision ● Analyzed history‚ business strategy‚ recent performance and future goals ○ ○ Differences in stock prices with similar ROEs How should cash position be taken into account when assessing performance? Porter’s Five Forces of Competitive Position Ahold Threat of new entrants (Market) Bargaining power of customers (Products) Bargaining
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MBA –M‚N‚V section Managerial statistics (IMBA 141) Number of Credits = 2 (30 hours) Course Overview IMBA 141 is a core course for 2 credit hours. It will discuss from both conceptual and application perspective‚ basic statistical and mathematical concepts and tools widely used in business applications. The course gives a basic statistical input desired for a clear understanding of core courses like Economics‚ Foundations of Finance‚ Managerial Finance‚ Operations Management
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Frigaliment v. B.N.S Facts: Frigaliment sued B.N.S. There were two contracts that involved selling chickens. In the first contract B.N.S was in agreeance with selling 75‚000 pounds of 2.5-3 pounds of chicken‚ to Frigaliment. 50‚000 pounds of chicken at 2.5-3 pounds at a higher price were agreed in the second contract. B.N.S fulfilled the first contract with two shipments. The first shipment fell short. B.N.S made up for the short shipment in their second shipment. Frigaliment accused B.N.S of shipping
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Roberto Benabid 2E10 Contents Part I: Rationale statement The stocks of Colruyt and Ahold were chosen for several reasons. In terms of collecting determinants of shares ‚ the stocks of Colruyt in combination with Ahold’s shares were chosen because they are both located in the same sector however active in different countries. With this
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Executive Summary The case discusses the Royal Ahold’s the major events that led to the demise of a great European company. The case presents some of the key issues in the areas of leadership‚ strategy‚ audit and accounting fraud that resulted in their disaster. The case identifies the problems made by the management in selecting the improper growth strategy and incentive plan that encouraged unethical behaviour from the senior management. The events presented touch and highlight management
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