Research On The Causes And Governance Of Jiuhao Group's Financial Fraud Based On GONE Theory

With the rapid development of China's economy,the healthy development of the domestic capital market is of great significance for China to improve the modern market system,broaden the investment and financing channels for enterprises and residents,optimize resource allocation,and accelerate the transformation and upgrading of the economy.Along with the rapid development of emerging capital markets,the fierce market competition environment has caused the financial fraud of corporate entities to continue to breed."Internet +" promotes the integration and upgrading of various industries,and the new mode of service new business has sprung up.The complexity of business models and the diversification of business methods have made the methods of financial fraud more concealed,and the forms of fraud are endless.The continuous outbreak of financial fraud cases in the securities market not only disrupted the normal market economic order,weakened the information disclosure system,but also was not conducive to the governance of listed companies and investor protection,laying a huge hidden danger for the smooth operation of the national economy.Effectively prevent and cure corporate financial fraud,effectively protect the legitimate rights and interests of investors,actively promote the construction of the capital market system,and create a good development environment for the capital market,which has attracted more and more attention from all walks of life.This paper adopts a two-way research method combining theoretical guidance and case analysis to conduct in-depth research on the financial fraud case of Jiuhao Group.At the beginning of the thesis,the author reviews the literature on the causes of financial fraud at home and abroad,the literature on the identification of financial fraud and the research results of preventing financial fraud,and makes a literature review of the research content.Then it introduces the theoretical basis related to the research content of the subject.This paper focuses on the research and analysis of the fraud motivation theory adopted in financial fraud--the GONE theory of fraud,and also introduces the principal-agent theory and internal control theory associated with the research content of the thesis.And the theory of information asymmetry.Secondly,it is an overview of the case of Jiuhao Group's financial fraud incidents which were severely punished by the China Securities Regulatory Commission in 2017.The company's operating model,shareholding structure and financial status were introduced to the general situation of Jiuhao Group.This is followed by an overall review of the financial fraud incident of Jiuhao Group,and an in-depth analysis of the fraudulent means of financial fraud ofJiuhao Group,including the inflated income,fictitious capital circulation,fictitious bank deposits,undisclosed major events,etc.Various fraud practices have packaged themselves into high-quality companies worth 3.71 billion yuan to seek backdoor listing.Then based on the theory of fraud motivation,GONE theory,the motivation analysis of Jiuhao Group from the four factors of greed,opportunity,need and exposure.Finally,based on the four factors of GONE theory,the paper puts forward suggestions for the governance of corporate financial fraud.The case analysis and fraudulent motivation research of Jiuhao Group's financial fraud has far-reaching practical significance.As an Internet platform-type operating company,Jiuhao Group's financial fraud presents a wide range of fraud,new fraud,and professional fraud.The new characteristics of fraudulent concealment,the research and analysis of this case can provide positive and realistic reference and reference for the prevention and control of corporate financial fraud.From the perspective of GONE theory,the article deeply analyzes the fraudulent behavior of Jiuhao Group,from reducing the greed of financial fraud;reducing the internal and external opportunities of financial fraud;reducing the bad needs of fraud;increasing the risk of fraud exposure and increasing punishment Put forward countermeasures and suggestions for managing financial fraud,and hope to have a containment and shocking effect on the enterprises that may appear in the future.This paper analyzes and studies the financial fraud cases of Jiuhao Group.It has timeliness and practicability.It proposes countermeasures to prevent and control corporate financial fraud by means of point and face,ensuring the law-abiding operation of enterprises and further standardizing the healthy operation order of capital markets.