A Study on Business Analysis and Valuation Using Quality of Earnings (5) : Predicting Fraudulent Accounting using Piotroski F-Score

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  • 利益の質による企業分析についての考察(5) : PiotroskiのF-Scoreによる不正会計予測
  • リエキ ノ シツ ニ ヨル キギョウ ブンセキ ニ ツイテ ノ コウサツ(5)Piotroski ノ F-Score ニ ヨル フセイ カイケイ ヨソク

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Abstract

This paper takes up the Piotroski model as a scoring model that embodies the quality of earnings and verifies its ability to discriminate against fraudulent accounting discovered in Japan. Although the ability to detect fraudulent accounting is not as high as that of influential AIs, it has some advantages such as being as easy to use as the Beneish model for general investors. While taking advantage of these advantages, in practice it is desirable to increase the sensitivity of the ability to predict fraudulent accounting by using multiple models, including the Piotroski model.

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