Title

Legitimizing Disclosures in an Anomic Environment: An Examining of Citigroup's $13 Billion Euro-Bond Short Sale

Abstract

On August 2, 2004, Citigroup traders based in the UK sold short more than $13 billion worth of government bonds only to buy them back seconds later at a profit of about $18.2 million dollars. This strategy was carefully planned, the consequences acknowledged by key participants, and it was profitable to the serious detriment of other market participants. The event is ethically questionable because it violates the spirit of European regulation. The purpose of this study is to investigate disclosures made by and about Citigroup surrounding a regulatory investigation into this short-sale within the contexts of legitimacy and institutional anomie theories.

Notes

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Thesis Completion

2007

Semester

Summer

Advisor

Dwyer, Peggy

Degree

Bachelor of Science (B.S.)

College

College of Business Administration

Degree Program

Accounting

Subjects

Business Administration -- Dissertations, Academic; Dissertations, Academic -- Business Administration

Format

Print

Identifier

DP0022136

Language

English

Access Status

Open Access

Length of Campus-only Access

None

Document Type

Honors in the Major Thesis

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