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The Barings Collapse: Explanations and Implications

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  • Hogan, W.P.

Abstract

The paper examines the circumstances which led to the collapse of Batings Plc at the end of February 1995. The analysis is based upon two official reports of investigations in London and Singapore. Annual reports and financial statements of Batings are also drawn upon. Each of the official reports is examined critically for an understanding of activities within Barings and the conduct of markets. Monitoring and supervision are scrutinised. The implications of the collapse are treated in terms of operational risk, corporate governance and the role of the supervisory authorities with the last-mentioned bearing also upon international co-operation.

Suggested Citation

  • Hogan, W.P., 1996. "The Barings Collapse: Explanations and Implications," Working Papers 235, University of Sydney, School of Economics.
  • Handle: RePEc:syd:wpaper:2123/6743
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    Cited by:

    1. Edward J. Kane & Kimberly DeTrask, 1998. "Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism," NBER Working Papers 6823, National Bureau of Economic Research, Inc.
    2. Kornert, Jan, 2003. "The Barings crises of 1890 and 1995: causes, courses, consequences and the danger of domino effects," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 13(3), pages 187-209, July.
    3. Kane, Edward J. & DeTrask, Kimberly, 1999. "Breakdown of accounting controls at Barings and Daiwa: Benefits of using opportunity-cost measures for trading activity," Pacific-Basin Finance Journal, Elsevier, vol. 7(3-4), pages 203-228, August.

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    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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