Case Study Of BO YUAN Financial Fraud Based On GONE Theory

With the continuous development of China's economy,the capital market has experienced unprecedented development.It has broken down to maturity,but there still exist financial fraud in Listed Companies in China's capital market.This not only seriously disrupts the order of the capital market,but also affects the credibility of the entire capital market.Based on China's national conditions,it is of great theoretical and practical value to thoroughly explore the issue of financial fraud of listed companies.According to GONE theory,the occurrence of corporate financial fraud needs to have four factors at the same time,namely,greediness factor,need factor,opportunity factor and exposure factor.If any of these are missing,there will be no financial fraud.Among them,greediness concerns the impact of individual's moral quality on financial fraud,and the necessary factors elaborate on the incentives of financial fraud from the perspective of the company.These two factors form the internal cause of financial fraud.Opportunity factors and exposure factors are external factors,which emphasize the influence of internal governance and external supervision of listed companies on financial fraud.First of all,combined with the current academic research on financial fraud,this paper will provide a foreshadowing for the subsequent case analysis.Then,the article gives a brief introduction to the Bo Yuan investment,describes the history of the company's growth,and analyses the financial fraudulent means of the Bo Yuan investment.The financial fraudulent means mainly include the fictitious bank receipts and payment transactions,the forgery of the bill and the false endorsement,the periodic disclosure of the false reports of the financial information,and the connection through the association.Transactions carry out assets transfer,etc.In addition,this section also analyzes the punishment results of Boyuan Investment and related persons and the influence of Boyuan Investment's financial fraud.Then,based on the GONE theory,using the method of combination of normative analysis and case analysis,this paper analyzes the reasons for the deep level of the financial fraud representation from four dimensions of greed,needs,opportunities and exposure.Finally,based on the four dimensions of Bo Yuan investment,we put forward some implications for financial fraud prevention.Based on the GONE theory,the analysis of financial fraud and the countermeasures can enrich the theoretical research results of our country in identifying and managing financial frauds.And Bo Yuan investment is the first case of the A stock market,which is the first major break out of the market,which is not only a major breakthrough in the strict implementation of the delisting system,but also a solid breakthrough in the implementation of the delisting system.An important practice of implementing the rule of law is a vivid portrayal of the direction of capital market adherence to rule of law.From now on,the innovation of the "major illegal delisting",the reform of the 2014 delisting system,is no longer a "paper talk",but is practiced in a way that the whole market can see.It is foreseeable that,beginning with the investment of Bo Yuan,an important step in the delisting system will have a far-reaching impact on the ecological environment of the whole market,and can also have a great vigilance and deterrent effect on enterprises who want to do financial fraud,which also plays an important role in promoting the sustained growth and stable development of the national economy.