Table 6 Multiple large shareholders and different types of fraud
From: Multiple large shareholders and corporate fraud: evidence from China
Information disclosure fraud | Operating fraud | Leader fraud | ||||
|---|---|---|---|---|---|---|
Variable | Fraud(1) | Fre(2) | Fraud(3) | Fre(4) | Fraud(5) | Fre(6) |
Multi | −0.1520*(−1.88) | − 0.1184**(− 2.32) | 0.0115(0.13) | −0.0242(− 0.44) | −0.2600(− 1.08) | −0.1000(− 1.07) |
Controls | YES | YES | YES | YES | YES | YES |
Individualfixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
Year fixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
Observations | 10,265 | 10,302 | 9222 | 9259 | 5574 | 5574 |
L-likelihood | − 3339.49 | − 5627.14 | − 2967.60 | − 5001.61 | − 1420.27 | − 2206.27 |
Chi2 | 339.71 | 443.08 | 341.74 | 393.39 | 169.82 | 246.88 |