Financial statement fraud is a huge obstacle to economic growth and it results in the loss of investors’ trust in the financial system. In literature, financial statement fraud detected in real sector companies is investigated thoroughly, however, financial statement fraud in financial...

Capital markets, where demand and supply for medium to long term finance meet, are more active and efficient in higher income countries. Capital markets are insufficiently developed in emerging countries such as Turkey that have the structural and institutional obstacles and lack of capital. The...