Corporate Kleptocracy

Corporate Kleptocracy

A slang term for greed among executives that harms shareholders or the general public. An example was Enron's use of aggressive accounting techniques to artificially inflate stock prices, which ultimately destroyed employees' retirement plans and the value for shareholders. The term is highly derogatory.
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The committee's report, delivered in August 2004, was entitled "A Corporate Kleptocracy," and said that Hollinger was "an entity In which ethical corruption was a defining characteristic.
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