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Executives of listed companies Empirical Study of Financial Fraud

Author: ZhuXiaoLi
Tutor: ZuoJingHua
School: Nanjing University of Finance and Economics
Course: Accounting
Keywords: Executives of listed companies Iceberg Theory Incentives for financial fraud Criminal Minds
CLC: F224
Type: Master's thesis
Year: 2008
Downloads: 729
Quote: 1
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Abstract

In recent years, China's rapid economic growth in the capital market and the influx of funds obtained in the context of the considerable development. However, the existence of widespread fraud, not only damages the Company's shareholders, creditors, and all aspects of the economic interests of stakeholders, and more seriously, it makes our country is far from mature stock market suffering from the impact of false accounting information, exacerbated by speculation and market volatility, thus affecting the healthy development of the securities market. Executives of listed companies as a special group, they are financial fraud of the \They have a right to information, the same, the disclosure of information also includes executives subjective will, be social, public or specific information users have a significant impact. When executives lack the necessary information on the right and effective restraint, beyond a certain threshold, it is easy in financial fraud. According to statistics, from 2002 to 2006 years, China's Securities Regulatory Commission announcement punished listed companies, there are 680 executives were warned, reprimand, fines varying degrees of punishment. In this context, the study of financial fraud issues listed company executives is particularly necessary. However, our financial fraud executives of listed companies has its own characteristics, can not simply copying foreign ways to solve the problem. Thus, according to executives of listed companies to study the current situation of financial fraud resulting motivation and governance mechanisms, has great significance. This paper describes the current domestic and foreign scholars for executives contribution to the study of financial fraud, including fraud affecting the financial executives research objective and subjective incentive inducement research; followed by executives of listed companies on the current system are analyzed, including executives selection, monitoring, performance evaluation and incentives, etc.; followed by the introduction of criminal psychology executives Financial Fraud subjective incentives and incentive levels were analyzed objectively. According to the analysis, binary logistic regression model was established an empirical study. The results showed that younger executives of listed companies will increase the probability of financial fraud executives; listed companies in the eastern region, the executives of financial fraud prone motive; establish a sound internal control system and set up the board to reduce the amount of independent board executives of financial fraud probability; Supervisory settings did not play its due role, they became executives Financial Fraud \Finally, a summary of the study, from the legal, corporate governance, executive systems, internal and external supervision and other aspects of governance of listed company executives of financial fraud made constructive comments.

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