文章基本信息

标题：Detecting False Financial Statements:Evidence from Greece in the Period of Economic Crisis
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作者：Michail Pazarskis ; George Drogalas
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2017
卷号：14
期号：3
页码：102-112
DOI：10.21511/imfi.14(3).2017.10
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：The purpose of this study is the examination of the financial fraud in Greek companies,listed on the Athens Exchange for the period of 2008–2015 during the economic crisis in Greece.The data of all the listed companies that were used comprise finan cial statements,reviews in the reports by the auditors and the figures and informa?tion based on the reports of the Athens Exchange.A total of twelve companies were found and they comprise the primary research sample with fraud in their financial statements(FFS),while another twelve companies were employed as a control sample (non-FFS)for various comparisons.From thirty financial ratios,several statistical tests to the sample and the control sample are applied in order to create a model that will use ratios as "predictors” in the analysis of financial statements for fraud.The model is accurate in classifying the total sample correctly with accuracy rates exceeding 90 percent.Theresults demonstrate that the model functions effectively in detecting FFS in a period of economic crisis and could be used as a tool to the banking system,from internal and external auditors and taxation or other state authorities.
关键词：financial statements;fraud;financial ratios;Greece;economic crisis