Can analyst coverage reduce the incidence of fraud? Evidence from China
We investigate the impact of security analyst coverage on the incidence of corporate financial fraud in China. After controlling for the endogeneity between analyst following and fraud, we find that financial analyst coverage cannot significantly influence the incidence of fraud. The empirical findings suggest that financial analysts do not serve as external monitors to managers and large shareholders in China.
Year of publication: |
2014
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Authors: | Hu, May ; Yang, Jingjing |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 21.2014, 9, p. 605-608
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Publisher: |
Taylor & Francis Journals |
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