Discuss the Reason Why Luckin Coffee and Wirecard Face Different Market Outcomes Despite Both Engaging in Financial Fraud

Hongji Li

doi:10.54254/2754-1169/2025.BL23765

Article Information

Received: 16 April 2025

Published: 9 June 2025

DOI: https://doi.org/10.54254/2754-1169/2025.BL23765

Article Type: Research Article

Cite this article

Li,H. (2025). Discuss the Reason Why Luckin Coffee and Wirecard Face Different Market Outcomes Despite Both Engaging in Financial Fraud. Advances in Economics, Management and Political Sciences,187,68-73.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About this Volume

Volume Title: AEMPS Vol.187

Part of Series: Advances in Economics, Management and Political Sciences

ISSN: 2754-1169 (Print) / 2754-1177 (Online)

Copyright & License

[1]What is financial fraud- MBA Think Tank Q&A home page. (n.d.). https://www.mbalib.com/ask/question-f5389c7f6fbd63c2bb5810297fd15f40.html

[2]U.S. Securities and Exchange Commission (SEC). (2020). SEC Charges Luckin Coffee with Accounting Fraud. Retrieved from https://www.sec.gov/news/press-release/2020-319

[3]Zhe Peng a b 1, a, b, 1, c, 2, d, 3, Coffee, A., BoehmerE., EngelbergJ.E., EvansJ., HeH., JamesS.D., KolariJ.W., LiuL.Y., ZhangB., ZhangC.X., AngA., … JianB. (2022, January 29). The Luckin Coffee scandal and short-selling attacks. Journal of Behavioral and Experimental Finance. https://www.sciencedirect.com/science/article/abs/pii/S221463502200003X

[4]Storbeck, Olaf; Dombey, Daniel (16 November 2020). "Santander buys Wirecard's core European business for €100m". Financial Times. Archived from the original on 10 December 2022. Retrieved 17 November 2020.

[5]Luckin Coffee Inc. (2020). Annual Report 2020. Retrieved from https://investor.luckincoffee.com/news-releases/news-release-details/luckin-coffee-files-annual-report-fiscal-2020

[6]Wirecard. (2020, June 22). Statement of the Management Board about the Current Situation of the Company. Retrieved from https://www.wirecard.com/company/press-releases/wirecard-ag-statement-of-the-management-board-about-the-current-situation-of-the-company

[7]McCrum, D. (2020, June 25). Wirecard: the timeline Financial Times. Retrieved from https://www.ft.com/content/284fb1ad-ddc0-45df-a075-0709b36868db

[8]Christopher Thompson. Breakingviews - breakingviews - wirecard could prove a nail in BAFin’s coffin. (n.d.). https://www.reuters.com/article/breakingviews/breakingviews-wirecard-could-prove-a-nail-in-bafins-coffin-idUSKBN23T1DU/

[9]Valinsky, J. (2021, February 5). Luckin Coffee files for bankruptcy in the US. CNN Business. Retrieved from https://www.cnn.com/2021/02/05/investing/luckin-coffee-us-bankruptcy-trnd/index.html

[10]Valinsky, J. (2021, February 5). Luckin Coffee files for bankruptcy in the US. CNN Business. Retrieved from https://www.cnn.com/2021/02/05/investing/luckin-coffee-us-bankruptcy-trnd/index.html

[11]Smith, T. (n.d.). What is market sentiment? Definition, indicator types, and examples. Investopedia. https://www.investopedia.com/terms/m/marketsentiment.asp