Securities Fraud and Corporate Finance: Recent Developments
Version of Record online: 18 JUN 2013
Copyright © 2013 John Wiley & Sons, Ltd.
Managerial and Decision Economics
Special Issue: Corporate Compliance and Wrongdoing
Volume 34, Issue 7-8, pages 439–450, October-December 2013
How to Cite
Yu, X. (2013), Securities Fraud and Corporate Finance: Recent Developments. Manage. Decis. Econ., 34: 439–450. doi: 10.1002/mde.2621
- Issue online: 17 SEP 2013
- Version of Record online: 18 JUN 2013
- National Natural Science Foundation of China. Grant Numbers: 71172127, 71272233
In this paper, I survey the recent research in corporate finance on financial securities frauds. I structure my review around the three subjects in this literature: studies of internal and external factors that elicit managerial incentives for fraudulent activities, studies on regulatory and market-based mechanisms that help to deter or detect fraud and on what affects the efficiency of such mechanisms, and studies on the economic and social consequences of financial fraud. I outline the empirical challenges related to this line of research and discuss opportunities for future studies. Copyright © 2013 John Wiley & Sons, Ltd.