Game Analysis Of XT Financial Fraud Based On The Perspective Of Investor Protection

The enterprise accounting information bears the responsibility of information supply in the whole market information system,and the quality difference and risk difference of its disclosure will cause a strong reaction to the market.Listed companies financial reporting fraud,insider trading and market manipulation can lead to stock price abnormal fluctuation,and the function of capital market is being challenged,cannot play efficiency,investor confidence drops.Therefore,it is very necessary to increase the research on the fraud cases of listed companies from different perspectives.This paper takes the typical fraud case of XT company as the research object,and based on the limited theory of game theory,constructs the game tree path between listed companies and investors and deducts the process.Through the combination of quantitative and qualitative analysis of the implicit relationship between XT companies and stakeholders,the game equilibrium results under pure strategy and mixed strategy are discussed to show the game process.Paper finally from the perspective of the broad masses of investors' rights,combined with regulators and the capital market the game behavior of various main process,put forward the relevant countermeasures in view of the lack of investor confidence phenomenon,aimed at prevention,early detection and efficient management of the listed company financial fraud in a timely manner.The research of this paper makes a beneficial exploration for protecting investors,improving the quality of accounting information disclosure and improving the efficiency of supervision.By deeply analyzing its reasons,linking the patterns of behavior patterns and putting them into theory,this will promote the formulation and implementation of accounting and auditing standards in the future.At the same time,according to the movements of XT company financial fraud game path analysis,regulators can change passive to active,for quite a number of possible problems of the company pay more attention,achieve proactive monitoring,make more orderly development of capital market.