Yi Wei

Doctor of Philosophy, (Finance)
Study Completed: 2015
Massey Business School


Thesis Title
Three essays on corporate fraud in Chinese listed companies

Read article at Massey Research Online: MRO icon

Ms Wei investigated the detection, processes and capital market impact of corporate fraud in China from 1994 to 2011. Three specific issues were researched in the Chinese context: the identification of fraudulent financial statements; the measurement of illegal tunnelling of company funds by controlling shareholders; and the evaluation of the stock market response to the public exposure of firm fraud violations. Her research found that balance sheet accounting values scaled by total assets or sales provide valuable information to predict fraudulent financial statements. In addition, a new theoretical model of cash tunnelling was developed to explain factors associated with tunnelling by controlling shareholders in the Chinese market. Evidence was presented that stock market prices in China do not fully reflect the losses incurred by fraudulent firms.

Dr Jianguo Chen
Dr Carolyn Wirth
Associate Professor Jing Chi

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