Be Aware: Fraud Risks

Henk R. Randau and Olga Medinskaya

Chapter 22 in China Business 2.0, 2015, pp 103-108 from Springer

Abstract: Abstract China is constantly plagued by fraud scandals. Anyone, whether only doing business with Chinese companies, managing a subsidiary, seeking investment opportunities or conducting merger and acquisition possibilities needs to be aware of China’s high fraud risks. The strong focus on family well-being, the urge to gain status through accumulation of wealth quickly (→ Social Concepts: ), weak controls and a generally relaxed attitude to fraud seem to drive such actions. Not surprisingly, Chinese pay great attention to building trust in business relationships and checking the partner’s credibility thoroughly.

Keywords: Corporate Governance; Weak Control; Fraud Risk; Accounting Irregularity; Poor Corporate Governance (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-07677-5_22

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DOI: 10.1007/978-3-319-07677-5_22

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