Monitoring and Analysis of Venture Capital and Corporate Fraud Based on Deep Learning

Table 4

Internal governance environment.

	(1)	(2)	(3)	(4)
	Occupy-H	Occupy-L	Occupy-H	Occupy-L
	VC	−0.043	−0.089	−0.058	−0.277
	(−1.10)	(−1.66)	(−1.21)	(−4.02)
Age	−0.040	−0.022	−0.070	0.001
	(−1.76)	(−0.72)	(−2.48)	(0.02)
Size	0.018	0.003	0.074	0.039
	(0.87)	(0.14)	(2.99)	(1.27)
ROA	−4.405	−2.633	−6.711	−5.177
	(−10.30)	(−5.15)	(−13.85)	(−9.11)
Dual	−0.037	−0.186	−0.070	−0.338
	(−0.93)	(−3.56)	(−1.47)	(−5.55)
Audit	−0.311	−0.177	−0.435	−0.346
	(−2.68)	(−1.61)	(−2.80)	(−2.29)
BdSize	0.062	0.286	−0.040	0.433
	(0.64)	(2.31)	(−0.34)	(2.88)
Tqmed	−0.080	−0.031	−0.207	−0.065
	(−0.99)	(−0.30)	(−2.06)	(−0.54)
Cash	−0.072	−0.098	−0.148	−0.116
	(−3.07)	(−3.37)	(−5.12)	(−3.24)
Constant	−0.096	−0.619	−0.498	−1.578
	(−0.18)	(−0.93)	(−0.82)	(−1.99)
Observations	7478	4471	7508	4539
Year&Industry	Yes	Yes	Yes	Yes
Pseudo R^2	0.040	0.049	0.049	0.067
AIC	7423.775	4443.219	11370.060	6796.922
Log likelihood	−3622.888	−2139.610	−5588.030	−3307.461

p < 0.10, p < 0.05, and p < 0.01.