کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5093773 1376143 2011 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Cooking the books: Recipes and costs of falsified financial statements in China
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
Cooking the books: Recipes and costs of falsified financial statements in China
چکیده انگلیسی
We examine the causes and consequences of falsified financial statements in China. Using bivariate probit regression analysis, we find that firms with high debt and that plan to make equity issues are more likely to manipulate their earnings and thus have to restate their financial reports in subsequent years. We also find that corporate governance structures have an effect on the occurrence and detection of financial fraud. There are significant negative consequences to fraudulent financial statements. Restating firms suffer negative abnormal stock returns, increases in their cost of capital, wider bid-ask spreads, a greater frequency of modified audit opinions, and greater CEO turnover. We also find that firms located in highly developed regions suffer more severe consequences when they manipulate their accounts.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Corporate Finance - Volume 17, Issue 2, April 2011, Pages 371-390
نویسندگان
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