Foul play
Article Abstract:
The recent scandals involving British football underscore the need for the UK Football Assn (FA) to address the issue of financial controls. Terry Venables and Brian Clough, widely considered to be two of the best football club managers in the country, were at the heart of these scandals. Venables was disqualified for directorship in one UK company for violating company law inside and outside the area of football, while Clough and his assistant Ronnie Felton are being accused of misconduct for accepting illegal payments. The FA denies that such behavior has become so commonplace in British football that fans have come to consider it as an acceptable price of success. Th association stresses that illegal practices can now be more easily spotted because it has adopted more stringent financial regimes.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Insider trading - the never-ending story
Article Abstract:
The public has been led to believe that the successful prosecution of inside traders who manipulated the 1986 Guinness-Distillers takeover bid is evidence that the UK financial markets are operating within the law. However, a survey of data connected with the takeover bids of approximately 600 UK firms since 1987 indicates that insider trading in securities has been prevalent in the UK financial markets since the Guinness affair. The data reveals an average 25% increase in share price prior to the public announcement of a takeover bid. Insider trading in securities is a fact of life, and if insider trading were legalized, investors could explicitly factor the effects of an imminent takeover bid into their calculations when making a decision on whether to accept a bid offer.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Highbury House Communications. Riding the media hype. Emap departure boost share price
- Abstracts: Alternative ways of managing the development of IT applications. Towards the electronic Institute
- Abstracts: A dose of Japanese medicine. Safeguarding the company's interests. R&D expenditures and the analysts' view
- Abstracts: Information content of insider trading around corporate announcements: the case of capital expenditures. Efficient signalling with dividends, investment, and stock repurchases
- Abstracts: Preservation order for a proud tradition. The power to persuade is no disability. Fit for yuppies