Tyco Corporate Governance Ecological Analysis and Financial Fraud Cases文档.docVIP

Tyco Corporate Governance Ecological Analysis and Financial Fraud Cases Tyco International Ltd. (Tyco International Ltd, hereinafter referred to as Tyco) was founded in 1960, its predecessor is just a laboratory service provided to government departments experimental declared. In 1973, Tyco in the New York Stock Exchange began its all-round multi-field expansion of the road, through mergers and acquisitions quickly the world’s largest component manufacturers, the world’s largest fire protection systems and electronic security services to producers, the world’s largest manufacturer of flow control valves, the world’s largest submarine communication system service provider. Tyco’s operators in over 100 countries, employment of 26 million people in 2003, turnover of more than 30 billion U.S. dollars, the stock market value of nearly 100 billion U.S. dollars, is the world a letter of ‘Titanic’, in the relevant the field behind General Electric Company. 1, ‘scandal iceberg’ emergent While the rapid rise on Wall Street for the Tyco marvel, saying it as ‘General Electric’ clone version, this ship is suddenly hit the ‘scandal of the iceberg’. In early 2002, an unauthorized 20 million U.S. dollars prize money attracted the attention of Tyco’s board of directors and has commissioned a law firm to investigate. This prize is the Chief Executive Officer Dennis. Kozlowski (Dennis Kozlowski) payable to the former Director and Chairman of the Remuneration Committee Walsh (Frank home. Walsh) of the so-called ‘intermediation costs’, to reward Tyco acquired CIT companies in the process of ‘matching effect’ . However, such a huge amount of money actually does not get board approval and authorization, which caused the Board of Directors Kozlowski’s dissatisfaction and suspicion. But the board still regarded as an isolated incident, not for its further action. Until June 1, 2002, another heavy bomb detonated. Tyco’s board of directors was suddenly told科兹洛夫斯 gene products evasion of