| With the rapid development of Internet technology and the promotion of mobile 5G data applications,the retail industry has seen a revolution in its business model.The concept of "new retail",with information technology at its core,has started to appear in people’s minds and the new retail business model has become a hot topic of concern from all walks of life.However,due to the nature of the "online + offline" transaction integration of the new retail business model,the transaction data of this type of enterprise is fragmented and the structure of the industry chain is variable and complex,which has a high risk of financial fraud and fraud is not easily detected.Financial fraud not only leads to a sharp decline in trust between companies and investors and third-party institutional regulators,but also seriously undermines the competitive fairness of capital markets,weakens the ability of capital markets to deploy resources and leads to an imbalance in the market economy.In recent years,China’s listed companies have been repeatedly exposed to financial fraud scandals,which have caused loss of interest to investors and undermined the foundation of sustainable and healthy development of the capital market.At the same time,due to the development of the new retail business model,the amount of financial fraud involved in this type of enterprise has increased significantly and the fraudulent means have become more and more concealed.In view of this,there is a strong sense of urgency and importance to conduct in-depth analysis and research on the causes and methods of financial fraud in new retail companies.This thesis takes Luckin Coffee,a new retail company that was once a huge hit but was delisted due to the exposure of financial fraud,as an example,and explores the causes and means of financial fraud in the new retail industry in the era of "Internet+" through a study of the causes,means and impacts of financial fraud of Luckin Coffee.It also provides recommendations on how to prevent financial fraud,with the aim of helping other new retail enterprises to avoid similar risks.The first part focuses on introducing the research background and significance of this thesis.Through literature reading on financial fraud theory,general fraud techniques and the new retail business model,we understand the origin of the new retail business model in the Internet era and compare it with the traditional business model,summarize the characteristics of the new retail business model and lay a theoretical foundation for the subsequent analysis.The second part firstly introduces the company development and personnel information of Luckin Coffee in detail,and compares the process of financial fraud of Luckin Coffee through time clues;secondly,using the fraud triangle theory as a framework,it analyzes that the core motive of Luckin Coffee’s financial fraud is due to the incomplete understanding of the new retail business model of "Internet+" and the adoption of unhealthy marketing methods to pursue development.In the face of huge fundraising and performance pressures,the company took advantage of the hidden and fragmented nature of transaction data in the new retail business model to commit financial fraud by inflating revenue,fictitious expenses and related party transactions.Finally,the impact of this financial fraud is summarized from three perspectives: the company itself,the new retail industry and the capital market.The third part,based on the study and analysis of the case,concludes that the financial fraud of Luckin Coffee had a greater impact and the financial fraud methods used were difficult to detect,revealing the lack of core competitiveness of the enterprise.In an era of rapid information technology,in order to reduce the risk of financial fraud in new retail enterprises,it is necessary to use technologies such as artificial intelligence,cloud computing and big data to effectively optimize corporate structures,enhance corporate core competitiveness,improve fraud risk management systems,strengthen management staff training and improve corporate financial fraud prevention techniques;regulators also need to improve market supervision paths and methods,improve systems and regulations,strengthen relevant party The regulators also need to improve the market supervision path and methods,improve the system and regulations,strengthen the responsibilities of relevant parties,and increase the penalties to reduce the probability of financial fraud.This article takes the case of financial fraud at Luckin Coffee as the basis,and studies the actual cases of financial fraud in new retail enterprises,revealing the means of financial fraud in these types of enterprises in the context of "Internet+",and gaining an in-depth understanding of the motives of financial fraud,which helps other new retail enterprises recognize the serious consequences of financial fraud.It also helps market surveillance agencies to better understand the characteristics of new retail enterprises so that they can better regulate and monitor the market.The analysis of the case and the lessons learned aim to warn other new retail companies to minimize the possibility of financial fraud,which is of great importance to new retail companies,investors and the capital market. |
