He, Jing; Gao, Hao; Qu, Yuanyu - 2022
This paper examines the effects of controlling shareholders on corporate fraud. Using a sample of Chinese listed firms … for 2004-2019, we find that the absence of an ultimate controlling shareholder increases the risk of corporate fraud. We … that in the absence of controlling shareholders, fraud is mainly conducted by blockholders, and firms with more dispersed …