We examine firm managers' incentives to commit fraud in a model where firms seek funding from investors and investors … can monitor firms at a cost in order to get more precise information about firm prospects. We show that fraud incentives … funded without committing fraud, whereas in bad times investors are more vigilant and it is harder to commit fraud …

on the proceedings of the Federal Reserve Bank of Chicago's eighth annual Payments Conference, Payments Fraud: Perception …

fraud perfectly. This work unveils five obstacles for positive SRO vigilance to occur in equilibrium. However, this article … fraud. Therefore, defying conventional wisdom, a mix of public and self regulation may be preferred because it would benefit …