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題名 台灣銀行業偵測中國財務舞弊之研究─公開資訊之運用
Research on Taiwan commercial banks` detection of financial fraud in China: The use of public information
作者 林耿涵
貢獻者 吳文傑
Wu, Jack
林耿涵
關鍵詞 金融詐騙
會計
中國
信用風險
銀行業
Financial Fraud
Accounting
China
Credit Risk
Banking
日期 2016
上傳時間 3-Feb-2016 12:08:10 (UTC+8)
摘要 International loan is a very important business for Taiwan commercial banks, and China is the largest credit market for Taiwan banks. However, when doing due diligence or credit risk research for Chinese companies, Taiwan commercial banks are facing difficulties and risks such as difficulty to monitor the company, a decelerating Chinese economy growth and other risk factors. Because of these difficulties, the common method used for international loan due diligence in Taiwan is not adequate to cope with the current credit risk situation.
There were two famous Chinese default cases in Taiwan during 2014, in which the thesis picks the Ultrasonic AG financial fraud case as an example. The Ultrasonic AG case shows that it is possible to use public information to detect and prevent financial frauds. Based on the case study, the thesis suggests Taiwan commercial banks could use a more comprehensive method of due diligence, to increase the accuracy of credit research. In the end, the thesis also suggests a KL credit scoring system, based on past financial frauds, to assist in credit research. By utilizing a more comprehensive method of due diligence and KL score system with traditional models, Taiwan commercial banks could better detect and prevent international financial frauds, especially financial frauds in China.
參考文獻 1. 本國銀行國家風險統計. Retrieved October 25, 2015, from http:// www.cbc.gov.tw
2. Ultrasonic AG obtains USD 60 million credit facility to speed up growth. (2014, August 8). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
3. Ultrasonic AG H1 report 2013. (2013, August 26). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/publications.html
4. Ultrasonic AG annual report 2012. (2013, April 15). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/publications.html
5. Schilit, H., & Perler, J. (2010). Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports (3rd ed.). New York, N.Y.: McGraw-Hill Education.
6. CEO and COO disappeared, most of the company’s cash missing. (2014, September 16). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
7. Preliminary insolvency administrator appointed. (2015, March 13). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
8. 中國索力倒帳 台灣六銀仍求償無門. (2014, December 11). Retrieved June 30, 2015, from http://news.ltn.com.tw/news/business/paper/838177
9. Ultrasonic AG stock price. (2015). Retrieved July 1, 2015, from http://www.boerse-frankfurt.de/
10. China Gets 1st Onshore Bond Default as Chaori Doesn’t Pay. Retrieved October 26, 2015, from http://www.bloomberg.com/news/articles/2014-03-07/chaori-solar-fails-to-make-interest-payments-on-bond-wsj-says
11. A Short History of Chinese Bond Defaults. Retrieved October 26, 2015, from http://www.bloomberg.com/news/articles/2015-10-26/a-short-history-of-chinese-bond-defaults
12. 國銀中國放款　金管會增列索力條款. (2015, March 30). Retrieved October 26, 2015, from http://www.appledaily.com.tw/realtimenews/article/new/20150330/583813/
13. 8I Holdings Limited interim report FY2016. (2015). Retrieved November 3, 2015, from http://www.8iholdings.com/
14. SEC Charges China-Based Longtop Financial Technologies for Deficient Filings. Retrieved January 14, 2016, from https://www.sec.gov/news/press/2011/2011-241.htm
15. SEC Charges RINO, Its CEO, and Its Chairman of the Board with Scheme to Overstate Revenues and Divert Money for Personal Use. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22699.htm
16. SEC Files Fraud Charges Against Universal Travel Group, Its Former CEO and Chair, Jiangping Jiang, and Its Former Director, Secretary and Interim CFO, Jing Xie. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22823.htm
17. SEC Charges China-Based Company and CEO in Latest Cross-Border Working Group Case. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22731.htm

18. SEC Announces Fraud Charges Against Coal Company and CEO for False Disclosures About Management. Retrieved January 14, 2016, from http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541317697
19. 公告 (1)針對本公司之清盤呈請 (2)澄清日期為2014年12月2日之公告 及 (3)有關本集團債務狀況之最新資料. Retrieved January 14, 2016, from http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0203/LTN201502031470_C.PDF
20. Statement of Allegations: In the Matter of Sino-Forest Corporation. Retrieved January 14, 2016, from https://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20120522_sino-forest.pdf
21. China-Biotics, Inc. Elects to Voluntarily Delist From the NASDAQ Stock Market. Retrieved January 14, 2016, from http://www.prnewswire.com/news-releases/china-biotics-inc-elects-to-voluntarily-delist-from-the-nasdaq-stock-market-124727108.html
22. TCRI財務指標之挑選. Retrieved January 14, 2016, from http://www.tej.com.tw
描述 碩士
國立政治大學
國際經營管理英語碩士學位學程(IMBA)
103933009
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0103933009
資料類型 thesis
dc.contributor.advisor 吳文傑zh_TW
dc.contributor.advisor Wu, Jacken_US
dc.contributor.author (Authors) 林耿涵zh_TW
dc.creator (作者) 林耿涵zh_TW
dc.date (日期) 2016en_US
dc.date.accessioned 3-Feb-2016 12:08:10 (UTC+8)-
dc.date.available 3-Feb-2016 12:08:10 (UTC+8)-
dc.date.issued (上傳時間) 3-Feb-2016 12:08:10 (UTC+8)-
dc.identifier (Other Identifiers) G0103933009en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/81188-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營管理英語碩士學位學程(IMBA)zh_TW
dc.description (描述) 103933009zh_TW
dc.description.abstract (摘要) International loan is a very important business for Taiwan commercial banks, and China is the largest credit market for Taiwan banks. However, when doing due diligence or credit risk research for Chinese companies, Taiwan commercial banks are facing difficulties and risks such as difficulty to monitor the company, a decelerating Chinese economy growth and other risk factors. Because of these difficulties, the common method used for international loan due diligence in Taiwan is not adequate to cope with the current credit risk situation.
There were two famous Chinese default cases in Taiwan during 2014, in which the thesis picks the Ultrasonic AG financial fraud case as an example. The Ultrasonic AG case shows that it is possible to use public information to detect and prevent financial frauds. Based on the case study, the thesis suggests Taiwan commercial banks could use a more comprehensive method of due diligence, to increase the accuracy of credit research. In the end, the thesis also suggests a KL credit scoring system, based on past financial frauds, to assist in credit research. By utilizing a more comprehensive method of due diligence and KL score system with traditional models, Taiwan commercial banks could better detect and prevent international financial frauds, especially financial frauds in China.		en_US
dc.description.tableofcontents 1. Introduction: The Growth of International Loan from Taiwan Commercial Banks, and the Importance of Chinese Market 1
2. The Difficulties and Potential Risks during International Loan due Diligence, and Risks Involved in Chinese Company Loans 3
2.1. Difficulty to Monitor the International Companies 3
2.2. Difficult to Conduct Accurate Market Research 3
2.3. Lacking of Access to First-hand Local Financial Statements 4
2.4. Chinese Companies Could Conduct Financial Frauds in Foreign Financial Markets Without Consequences to the Controller 5
2.5. Chinese Economy Growth Decelerating While the NPL Ratio Raises 5
2.6. Even Big Four Auditing Firms Could not Prevent All Frauds 7
3. The Common Method of International Loan due Diligence in Taiwan, and the Shortfalls 8
4. Chinese Financial Fraud Case Study: Ultrasonic AG Syndicated Loan Default and Bankruptcy 10
4.1. Case Introduction 10
4.1.1. Company Introduction of Ultrasonic AG 10
4.1.2. Overview of the Ultrasonic AG Syndicated Loan 12
4.2. Red Flags Taishin Financial Holdings Found in the Ultrasonic AG Case 12
4.2.1. Red Flag 1: Contradicting Brand Stories Which Lack Credibility 13
4.2.2. Red Flag 2: Same Gross Margin for Vastly Different Products 15
4.2.3. Red Flag 3: Unusually Stable Gross, Operating and Profit Margins Across Multiple Accounting Periods 17
4.2.4. Red Flag 4: The Unusually Stable Margins Trend of Ultrasonic AG Is Vastly Different from Industry Trend 19
4.2.5. Red Flag 5: Balance Sheet and Statement of Cash Flow Suggests No Need for Borrowing Funds 20
4.3. The Ultrasonic AG Default and Aftermath 23
4.4. Summary of the Ultrasonic AG Financial Fraud Case 27
5. Suggestion: A Comprehensive Method for International Loan due Diligence to Prevent Chinese Financial Frauds, and a New Credit Scoring System 29
5.1. Comprehensive Method for International Loan due Diligence 29
5.2. KL Credit Scoring System 31
5.3. Testing of KL Credit Scoring System on Chinese Fraud/Credit Event Cases 39
6. Conclusion 42
Reference 44		zh_TW
dc.format.extent 741509 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0103933009en_US
dc.subject (關鍵詞) 金融詐騙zh_TW
dc.subject (關鍵詞) 會計zh_TW
dc.subject (關鍵詞) 中國zh_TW
dc.subject (關鍵詞) 信用風險zh_TW
dc.subject (關鍵詞) 銀行業zh_TW
dc.subject (關鍵詞) Financial Frauden_US
dc.subject (關鍵詞) Accountingen_US
dc.subject (關鍵詞) Chinaen_US
dc.subject (關鍵詞) Credit Risken_US
dc.subject (關鍵詞) Bankingen_US
dc.title (題名) 台灣銀行業偵測中國財務舞弊之研究─公開資訊之運用zh_TW
dc.title (題名) Research on Taiwan commercial banks` detection of financial fraud in China: The use of public informationen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 1. 本國銀行國家風險統計. Retrieved October 25, 2015, from http:// www.cbc.gov.tw
2. Ultrasonic AG obtains USD 60 million credit facility to speed up growth. (2014, August 8). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
3. Ultrasonic AG H1 report 2013. (2013, August 26). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/publications.html
4. Ultrasonic AG annual report 2012. (2013, April 15). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/publications.html
5. Schilit, H., & Perler, J. (2010). Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports (3rd ed.). New York, N.Y.: McGraw-Hill Education.
6. CEO and COO disappeared, most of the company’s cash missing. (2014, September 16). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
7. Preliminary insolvency administrator appointed. (2015, March 13). Retrieved June 30, 2015, from http://www.ultrasonic-ag.de/en/ad-hoc-news/116-ultrasonic-ag-obtains-usd-60-million-credit-facility-to-speed-up-growth.html
8. 中國索力倒帳 台灣六銀仍求償無門. (2014, December 11). Retrieved June 30, 2015, from http://news.ltn.com.tw/news/business/paper/838177
9. Ultrasonic AG stock price. (2015). Retrieved July 1, 2015, from http://www.boerse-frankfurt.de/
10. China Gets 1st Onshore Bond Default as Chaori Doesn’t Pay. Retrieved October 26, 2015, from http://www.bloomberg.com/news/articles/2014-03-07/chaori-solar-fails-to-make-interest-payments-on-bond-wsj-says
11. A Short History of Chinese Bond Defaults. Retrieved October 26, 2015, from http://www.bloomberg.com/news/articles/2015-10-26/a-short-history-of-chinese-bond-defaults
12. 國銀中國放款　金管會增列索力條款. (2015, March 30). Retrieved October 26, 2015, from http://www.appledaily.com.tw/realtimenews/article/new/20150330/583813/
13. 8I Holdings Limited interim report FY2016. (2015). Retrieved November 3, 2015, from http://www.8iholdings.com/
14. SEC Charges China-Based Longtop Financial Technologies for Deficient Filings. Retrieved January 14, 2016, from https://www.sec.gov/news/press/2011/2011-241.htm
15. SEC Charges RINO, Its CEO, and Its Chairman of the Board with Scheme to Overstate Revenues and Divert Money for Personal Use. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22699.htm
16. SEC Files Fraud Charges Against Universal Travel Group, Its Former CEO and Chair, Jiangping Jiang, and Its Former Director, Secretary and Interim CFO, Jing Xie. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22823.htm
17. SEC Charges China-Based Company and CEO in Latest Cross-Border Working Group Case. Retrieved January 14, 2016, from https://www.sec.gov/litigation/litreleases/2013/lr22731.htm

18. SEC Announces Fraud Charges Against Coal Company and CEO for False Disclosures About Management. Retrieved January 14, 2016, from http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541317697
19. 公告 (1)針對本公司之清盤呈請 (2)澄清日期為2014年12月2日之公告 及 (3)有關本集團債務狀況之最新資料. Retrieved January 14, 2016, from http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0203/LTN201502031470_C.PDF
20. Statement of Allegations: In the Matter of Sino-Forest Corporation. Retrieved January 14, 2016, from https://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20120522_sino-forest.pdf
21. China-Biotics, Inc. Elects to Voluntarily Delist From the NASDAQ Stock Market. Retrieved January 14, 2016, from http://www.prnewswire.com/news-releases/china-biotics-inc-elects-to-voluntarily-delist-from-the-nasdaq-stock-market-124727108.html
22. TCRI財務指標之挑選. Retrieved January 14, 2016, from http://www.tej.com.tw		zh_TW