Fuente: Sustainability - Revista científica (MDPI) Sustainability, Vol. 17, Pages 11236: From Joint Distribution Alignment to Spatial Configuration Learning: A Multimodal Financial Governance Diagnostic Framework to Enhance Capital Market Sustainability
Sustainability doi: 10.3390/su172411236
Authors:
Wenjuan Li
Xinghua Liu
Ziyi Li
Zulei Qin
Jinxian Dong
Shugang Li

Financial fraud, as a salient manifestation of corporate governance failure, erodes investor confidence and threatens the long-term sustainability of capital markets. This study aims to develop and validate SFG-2DCNN, a multimodal deep learning framework that adopts a configurational perspective to diagnose financial fraud under class-imbalanced conditions and support sustainable corporate governance. Conventional diagnostic approaches struggle to capture the higher-order interactions within covert fraud patterns due to scarce fraud samples and complex multimodal signals. To overcome these limitations, SFG-2DCNN adopts a systematic two-stage mechanism. First, to ensure a logically consistent data foundation, the framework builds a domain-adaptive generative model (SMOTE-FraudGAN) that enforces joint distribution alignment to fundamentally resolve the issue of economic logic coherence in synthetic samples. Subsequently, the framework pioneers a feature topology mapping strategy that spatializes extracted multimodal covert signals, including non-traditional indicators (e.g., Total Liabilities/Operating Costs) and affective dissonance in managerial narratives, into an ordered two-dimensional matrix, enabling a two-dimensional Convolutional Neural Network (2D-CNN) to efficiently identify potential governance failure patterns through deep spatial fusion. Experiments on Chinese A-share listed firms demonstrate that SFG-2DCNN achieves an F1-score of 0.917 and an AUC of 0.942, significantly outperforming baseline models. By advancing the analytical paradigm from isolated variable assessment to holistic multimodal configurational analysis, this research provides a high-fidelity tool for strengthening sustainable corporate governance and market transparency.