| Status | 已發表Published |
| Financial Fraud, CEO Turnover and Regulatory Effectiveness: Evidence from China | |
Lei, C. H. ; Law, K. F.
| |
| 2017-12-14 | |
| Source Publication | 25th SFM Conference
 |
| Abstract | We examine the Chinese regulatory agencies legal enforcements on Chinese listed firms. Using a sample from 1999 to 2015, we find that firms’ fraud convictions relates to significant negative abnormal returns and firms’ reputation, consistent with prior findings in other developed countries. CEOs in fraud firms are more likely to leave the present positions comparing with those in non-fraud firms. Interestingly, the replaced CEOs in fraud firms are more likely to find new jobs, but less likely to find higher job positons than their original post. Our evidence suggests that there are spillover effects on the whole industry when one firm engages in fraudulent activities. The convictions increase the likelihood of the CEO turnover for other firms in the same industry. These results show some support that CSRC enforcements impose real effects to the related firms and industries. |
| Keyword | Fraud CEO China Regulatory Effectiveness |
| Language | 英語English |
| The Source to Article | PB_Publication |
| PUB ID | 36947 |
| Document Type | Conference paper |
| Collection | DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS |
| Corresponding Author | Lei, C. H. |
| Recommended Citation GB/T 7714 | Lei, C. H.,Law, K. F.. Financial Fraud, CEO Turnover and Regulatory Effectiveness: Evidence from China[C], 2017. |
| APA | Lei, C. H.., & Law, K. F. (2017). Financial Fraud, CEO Turnover and Regulatory Effectiveness: Evidence from China. 25th SFM Conference. |
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