Securities Fraud and Corporate Finance: Recent Developments
2014, Managerial Decision and Economics
In this paper, I survey the recent research in corporate finance on financial securities frauds. I structure my review around three subjects in this literature: studies on 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.
Yu, Xiaoyun (2014), “Securities Fraud and Corporate Finance: Recent Developments,” Managerial Decision and Economics, 34 (Special Issue on Corporate Compliance and Wrongdoing): 439-450.