Corporate fraud culture: Re-examining the corporate governance and performance relation

Tan, David T, Chapple, Larelle, & Walsh, Kathleen D (2015) Corporate fraud culture: Re-examining the corporate governance and performance relation. Accounting and Finance. (In Press)

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We analyse the corporate governance and performance relation, when conditioning on corporate fraud, for fraud firms during 2000 – 2007. Fraud firms are identified as either self- reported fraud events, or subject to regulatory investigation. We use the inverse Mills ratio procedure to account for firms' (unobservable) fraud culture in the dynamic system GMM model of the performance- governance relation. We find that corporate governance is an endogenously determined characteristic that has no causal impact on firm performance when conditioning on fraud. Fraud is a significant regulatory event but its overall economic impact at the firm level is highly variable.

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ID Code: 91138
Item Type: Journal Article
Refereed: Yes
Keywords: Fraud, Corporate governance, Endogeneity
DOI: 10.1111/acfi.12156
ISSN: 1467-629X
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2015 AFAANZ
Deposited On: 10 Dec 2015 01:00
Last Modified: 10 Dec 2015 22:04

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