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Ivy League Rocket Science Analysis: Why CFOs Cook the Books

CFO's commit accounting fraud because of greed and because of pressure from their bosses.

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CNBC.com

That's the one sentence summary of an article based on an abstract summing up an academic paper.

But you probably didn't need me to tell you that.

Because — unlike certain of our academics — you've held a job in the real world.

If you hadn't read this article — in a publication augustly titled The Harvard Law School Forum on Corporate Governance and Financial Regulation — you probably could have guessed all this on your own.

Yes, in the real world, where we non-academics live, greed and pressure often go hand in hand.

And CFOs, apparently, respond to both carrot and stick.

How lovely it must be to inhabit an ivory tower — where such wisdom is considered not just novel insight, but a salient hypothesis for an academic report.

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  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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