The antecedents and consequences of top management fraud

Shaker A. Zahra, Richard L. Priem, Abdul A. Rasheed

Research output: Contribution to journalReview articlepeer-review

328 Scopus citations


Fraud by top management is a topic that has stirred public interest, concern, and controversy. In this article, the authors analyze fraud by senior executives in terms of its nature, scope, antecedents, and consequences. They draw on the fields of psychology, sociology, economics, and criminology to identify societal-, industry, and firm-level antecedents of management fraud and the individual differences that enhance or neutralize the likelihood and degree of such fraud. The authors also review the consequences of management fraud on various stakeholder groups such as shareholders, debtholders, managers, local communities, and society.

Original languageEnglish (US)
Pages (from-to)803-828
Number of pages26
JournalJournal of Management
Issue number6
StatePublished - Dec 2005


  • Antecedents of fraud
  • Consequences of fraud
  • Financial misstatements
  • Malfeasance
  • Top management fraud


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