Previous accounting research has devoted much attention to the benefits to managers from manipulating reported accounting information. Little attention, however, has been devoted to the costs of manipulating accounting information. This paper examines turnover costs borne by managers associated...

It is broad conventional wisdom that a financial collapse in the early 1930s was the principal cause of the Great Depression. And those lessons are being applied in solving today's economic crisis. This historian argues that the causes were more fundamental and can be found in the poor wage...