@techreport{30cd2011e0354e4aa63900ae7e08596b,
title = "Royal Ahold: A Failure of Corporate Governance and an Accounting Scandal",
abstract = "Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures, suffering a complete meltdown, in 2003.We investigate the strategy, accounting transparency and corporate governance of Ahold; elements which jointly drive the firm s performance over this period of time.In general, the corporate governance, accounting transparency, strategy and firm performance relationships are complex.There is not a fully specified model available to address the inter-relationships, including the endogeneity problem.The econometrics are difficult and constrained not only by the lack of a fully specified theory but also by data availability. Our clinical study overcomes these problems by providing an in-depth analysis of the inter-relationships among corporate governance, accounting transparency and strategy that lead to Ahold s downfall.We provide insights into these relationships and their complexity that present theory and empirical studies cannot address.",
keywords = "international economics, financial economics, financial reporting, law and economics, corporate governance, regulation",
author = "{de Jong}, A. and D.V. DeJong and G.M.H. Mertens and P.G.J. Roosenboom",
note = "Subsequently published in Journal of Accounting and Public Policy, 2007 (rt) Pagination: 57",
year = "2005",
language = "English",
volume = "2005-57",
series = "CentER Discussion Paper",
publisher = "Accounting",
type = "WorkingPaper",
institution = "Accounting",
}