To evaluate the applicability of the M-score model in the Chinese capital market,this research observed 190 financial fraud samples punished by the China Securities Regulatory Commission(CSRC)in the years from 2014 to...To evaluate the applicability of the M-score model in the Chinese capital market,this research observed 190 financial fraud samples punished by the China Securities Regulatory Commission(CSRC)in the years from 2014 to 2018.The test results indicate that two types of errors are high,which means that the applicability of the M-score is unacceptable.Therefore,in this paper,a 9-index model is constructed by Wald's backward stepwise regression method,and the optimal threshold is set by the Beneish expected cost method(ECM).The accuracy of the modified M-score is significantly improved,especially the Type I error rate of is reduced from 70.37%to 19.75%.The receiver operating characteristic(ROC)curve test also proves the superior identification effect of the modified M-score applied in the Chinese market.Finally,variables such as current ratio,fixed asset index,and equity concentration in the modified model could represent the fraud characteristics of Chinese listed companies.展开更多
This study introduces a new bibliometric indicator,m-score,quantifying individual's scientific research output.m-score is based on the initiative of h-index using a single number to measure research performance bu...This study introduces a new bibliometric indicator,m-score,quantifying individual's scientific research output.m-score is based on the initiative of h-index using a single number to measure research performance but overcome its inconsistency in measurement.Comparing with the h-index,the m-score can measure research performance more consistently and accurately with the combination of the productivity and the quality.展开更多
文摘To evaluate the applicability of the M-score model in the Chinese capital market,this research observed 190 financial fraud samples punished by the China Securities Regulatory Commission(CSRC)in the years from 2014 to 2018.The test results indicate that two types of errors are high,which means that the applicability of the M-score is unacceptable.Therefore,in this paper,a 9-index model is constructed by Wald's backward stepwise regression method,and the optimal threshold is set by the Beneish expected cost method(ECM).The accuracy of the modified M-score is significantly improved,especially the Type I error rate of is reduced from 70.37%to 19.75%.The receiver operating characteristic(ROC)curve test also proves the superior identification effect of the modified M-score applied in the Chinese market.Finally,variables such as current ratio,fixed asset index,and equity concentration in the modified model could represent the fraud characteristics of Chinese listed companies.
文摘This study introduces a new bibliometric indicator,m-score,quantifying individual's scientific research output.m-score is based on the initiative of h-index using a single number to measure research performance but overcome its inconsistency in measurement.Comparing with the h-index,the m-score can measure research performance more consistently and accurately with the combination of the productivity and the quality.
