Firms'Productivity Fluctuations and Financial Fraud under the Exposure Risk Perspective——Empirical Evidence Based on DEA-Malmquist Index
Exposure risk is an important factor affecting fraud behaviour in GONE theory,this paper uses data envelopment analysis to construct the index of enterprise production efficiency fluctuation,and establishes a game model to analyze the mechanism of production efficiency fluctu-ation affecting financial fraud from the perspective of risk exposure.The samples of manufacturing listed companies in the A-share market from 2016 to 2020 are selected for empirical research,and it is found that the higher the productivity fluctuation,the higher the risk of financial fraud in listed companies;The results of heterogeneity study show that corporate transparency,audit quality and external supervision intensity will affect the relationship between production efficiency fluctuation and fraud risk.The research can expand the perspective of financial fraud identification and provides valuable references for the regulation of financial fraud in listed companies.
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