What Works in Securities Laws?

We examine the effect of securities laws on stock market development in 49 countries. We find little evidence that public enforcement benefits stock markets, but strong evidence that laws mandating disclosure and facilitating private enforcement through liability rules benefit stock markets. Copyright 2006 by The American Finance Association.

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Year of publication:	2006
Authors:	PORTA, RAFAEL ; LOPEZ-DE-SILANES, FLORENCIO ; SHLEIFER, ANDREI
Published in:	Journal of Finance. - American Finance Association - AFA, ISSN 1540-6261. - Vol. 61.2006, 1, p. 1-32
Publisher:	American Finance Association - AFA

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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