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ZENODO
Article . 2024
License: CC BY
Data sources: ZENODO
ZENODO
Article . 2024
License: CC BY
Data sources: Datacite
ZENODO
Article . 2024
License: CC BY
Data sources: Datacite
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Forensic Analysis of Conformity & Non-Conformity of Adani Group Based on Benford's Law

Authors: Bhole, Dr.R.V.;

Forensic Analysis of Conformity & Non-Conformity of Adani Group Based on Benford's Law

Abstract

Abstract: Corporate reporting allows companies to convey their value openly. Such reports are essential for organizations seeking transparency, fairness, and accountability. They enable companies to highlight the financial health of their business. One year after Hindenburg Research made allegations of stock manipulation against the Adani Group, this study is designed to investigate a dataset encompassing the opening and closing stock prices of different companies within the Adani Group. The goal is to detect any instances of non-conformity. Utilizing a widely recognized forensic accounting technique like Benford's Law, verification is carried out using the mean absolute deviation. The database comprises the opening and closing stock prices of six companies within the Adani Group sourced from the National Stock Exchange (NSE). The findings indicate that the stock prices, as reported in the NSE from the day following their listing, deviate from Benford's distribution, and the level of adherence to this distribution diminishes notably. Adani Enterprises Ltd. and Adani Power Ltd. exhibit satisfactory conformity within the second-digit range. This investigation solely addresses the six companies within the Adani Group in response to allegations by Hindenburg Research and OCCRP, excluding examinations of scams or scandals involving other institutions. The study employs a single method, namely MAD, to assess conformity with Benford's Law.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green