Case Analysis of SHENXIANYUAN Financial Fraud Based on the GONE-theory

DOI

10.2991/icedem-18.2018.8How to use a DOI?

Keywords

SHENXIANYUAN; Financial fraud; NEEQ; GONE-theory

Abstract

With the continuous development and improvement of China's market economy, the securities market is also facing new challenges, not only opportunities, but also huge risks. At present, it seems that there are problems such as inappropriate related party transactions in listed companies in China, and there is still a trend of further expansion. Poor performance of many corporations in the first fiscal year after they were included into National Equities Exchange and Quotations (NEEQ), seriously dampened investors’ faith and enthusiasm on these NEEQ-listed companies. Based on the famous GONE theory, this paper explores the most serious fraud case of SHENXIANYUAN in NEEQ which got punished by the SFC in 2016, analyzes its full motivations of financial report fraud from the point of four factors-Greed, Need, Opportunity and Exposure, then provides solving ideas on pre-market financial statements fraud issues.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Songqin Ye
AU  - Sitong Hu
AU  - Lei Sun
PY  - 2018/12
DA  - 2018/12
TI  - Case Analysis of SHENXIANYUAN Financial Fraud Based on the GONE-theory
BT  - Proceedings of the 2018 2nd International Conference on Economic Development and Education Management (ICEDEM 2018)
PB  - Atlantis Press
SP  - 27
EP  - 30
SN  - 2352-5398
UR  - https://doi.org/10.2991/icedem-18.2018.8
DO  - 10.2991/icedem-18.2018.8
ID  - Ye2018/12
ER  -