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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.

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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