Can Core Competence Help Enterprises Reduce Corporate Fraud?
利用2007-2022年中国A股上市公司数据，通过文本分析构建核心竞争力指标，实证发现核心竞争力能有效减少企业欺诈，机制是降低业绩压力、提升内控质量和外部关注。
ABSTRACT This paper empirically examines the impact of core competence on corporate fraud by constructing the measurement index of core competence through textual analysis, using Chinese A‐share listed companies from 2007 to 2022 as a research sample. It is found that: core competence can effectively reduce corporate fraud, and the conclusions still hold under a series of robustness tests. The mechanism test reveals that core competence can reduce performance pressure, improve internal control quality and enhance external attention, thereby reducing the motivation and opportunity for misconduct and binding corporate fraud. Further study finds that: the binding effect of core competence on corporate fraud is more significant in non‐state‐owned enterprises and enterprises in a well‐established external legal environment. Core competence is more significant in reducing disclosure violations and operational violations compared to executive violations. The findings of this paper not only enrich the literature on the economic consequences of core competence and the factors influencing corporate fraud, but also have significant theoretical and practical implications for how to avoid corporate fraud.