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中国管理科学 ›› 2026, Vol. 34 ›› Issue (10): 14-27.doi: 10.16381/j.cnki.issn1003-207x.2024.1765

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基于多模态图表示深度学习的上市公司财务报表舞弊识别研究

张璇1,2, 魏玉洁1, 郭丰彰1, 孙旭升1, 王刚1,2()   

  1. 1.合肥工业大学管理学院,安徽 合肥 230009
    2.过程优化与智能决策教育部重点实验室,安徽 合肥 230009
  • 收稿日期:2024-09-30 修回日期:2025-01-07 出版日期:2026-10-25 发布日期:2026-10-09
  • 通讯作者: 王刚 E-mail:wgedison@gmail.com
  • 基金资助:
    国家自然科学基金项目(72431005);国家自然科学基金项目(72371096);国家自然科学基金项目(72071062);安徽省青年项目(A类延续资助)(2508085JX009)

Financial Statement Fraud Identification Model for Listed Companies Based on Multimodal Graph Representation Deep Learning

Xuan Zhang1,2, Yujie Wei1, Fengzhang Guo1, Xusheng Sun1, Gang Wang1,2()   

  1. 1.School of Management,Hefei University of Technology,Hefei 230009,China
    2.The Ministry of Education Key Laboratory of Process Optimization and Intelligent Decision,Hefei 230009,China
  • Received:2024-09-30 Revised:2025-01-07 Online:2026-10-25 Published:2026-10-09
  • Contact: Gang Wang E-mail:wgedison@gmail.com

摘要:

近年来,多模态深度学习已被用于财务报表舞弊识别,并取得较好的预测性能。然而,现有研究未能充分挖掘财务数据和文本信息在模态内和模态间的复杂交互关系,限制了模型对财务报表舞弊线索的识别能力。为此,本文提出了一种基于多模态图表示的深度学习方法,以更好地对财务报表舞弊进行识别。首先,利用SAE提取出不同层次的财务特征,并通过图神经网络捕捉财务模态内的特征交互关系。其次,利用Word2vec提取出年度报告的局部语义特征,并通过图神经网络捕捉文本模态内的特征交互关系。最后,基于逐元素平均池化层和最大池化层设计了一个新的门控机制,用以捕获财务模态和文本模态间的特征交互关系。为了验证本文所提方法的有效性,选取了2015—2022年A股上市公司的数据进行实验,结果表明,本文所提的财务报表舞弊识别方法效果优于其他对比方法。

关键词: 财务报表舞弊, 多模态深度学习, 图神经网络

Abstract:

In recent years, financial statement fraud has emerged as a growing concern, with the Association of Certified Fraud Examiners (ACFE) report underscoring the significant economic losses despite the low incidence of such fraud. This issue highlights the urgent need to build an accurate and efficient model for financial statement fraud detection (FSFD). With the advent of unstructured data and high-dimensional features, researchers are increasingly turning to using multimodal deep learning methods for FSFD. However, existing studies often simply extract and fuse financial and textual modalities, without fully exploiting the complex feature interactions within and between modalities for FSFD. To this end, DLM_MGR, a deep learning method based on multimodal graph representation is proposed, aimed at exploring the feature interactions within and between modalities to enhance FSFD.The DLM_MGR method proposed in this study comprises three key steps. First, different levels of financial features are extracted using Stacked Autoencoders (SAE), and the feature interactions within the financial modality are captured through graph neural networks. This step thoroughly excavates the feature interactions among different levels of financial features within the financial modality, deepening the understanding of the company's financial condition. Second, local semantic features of annual reports are extracted using Word2vec, and the feature interactions within the textual modality are captured through graph neural networks. This step effectively mines the feature interactions among local semantic features within the textual modality, enhancing the comprehension of the text in the annual reports. Finally, a novel gating mechanism is designed based on element-wise average pooling and max pooling layers to capture modality-shared features and modality-specific features between the financial and textual modalities. This step fully explores the feature interactions between the financial and textual modalities, preventing information imbalance between the modalities and thereby improving the effectiveness of FSFD.To verify the effectiveness of DLM_MGR, experiments are conducted using data from A-share listed companies spanning from 2015 to 2022. Eight evaluation metrics are employed to comprehensively assess the model’s performance from multiple dimensions, including Accuracy, Precision, Recall, Area Under the ROC Curve (AUC), F1-score, F2-score, Type I Error Rate, and Type II Error Rate. The results demonstrated that the proposed method outperformed other benchmark methods, achieving optimal results on most metrics across different modalities.To summarize, the DLM-MGR method significantly improves the accuracy and efficiency of FSFD by exploiting the feature interactions within and between financial and textual modalities. The experimental results affirm its high recognition accuracy and computational efficiency, making it feasible for practical applications. It holds significant theoretical and practical value in this research. Theoretically, it enriches the literature on multimodal deep learning in the field of FSFD, providing an analytical framework in terms of shared features and specific features for other research paradigms. Practically, it offers a more effective method to detect financial statement fraud, enabling timely and accurate risk warnings, thereby promoting the healthy development of capital markets. Future research could explore incorporating external company information, such as social media data, and investigate deep clustering methods, such as deep embedded clustering (DEC), to further enhance the effectiveness of FSFD.

Key words: financial statement fraud, multimodal deep learning, graph neural network

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