Table. 1 Sample selection and distribution
From: Multiple large shareholders and corporate fraud: evidence from China
Panel A: Sample selection process | Observations | ||||||||
Initial firm–year sample from 2010 to 2018 | 30,240 | ||||||||
Observations without large shareholders | (395) | ||||||||
Observations with missing values or unmatched values | (5141) | ||||||||
Final sample for testing | 24,704 | ||||||||
Panel B: Distribution by fiscal year | |||||||||
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
# of firm–years | 2003 | 2294 | 2462 | 2464 | 2588 | 2809 | 3036 | 3472 | 3576 |
# of fraud firms | 322 | 470 | 560 | 525 | 483 | 588 | 480 | 400 | 279 |
% of fraud firms | 16.08 | 20.49 | 22.75 | 21.31 | 18.66 | 20.93 | 15.81 | 11.52 | 7.80 |