On the Regulatory Effects of the Chinese Securities Regulation in View of the Management Forecasts Frauds
利用中国强制披露管理层盈利预测的制度，检验2002至2008年执法行动是否降低了后续预测欺诈概率，发现规制效果微弱。
Management earnings forecasts in China are mandatory.This provides us with an opportunity to test whether the probabilities of management forecasts frauds are significantly reduced by prior enforcement actions. Large sample test from 2002 to 2008 indicated that the enforcement actions induced by management forecasts frauds or other frauds didn't curb the probability of subsequent management forecasts frauds.That is,the regulatory effects are weak.