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traditionally left to competing provincial securities commissions. The current state of securities regulation renders impotent US …-style takeover defences, such as poison pills and staggered boards, but allows voting caps and pyramiding in their stead. Various … federal securities regulation models are weighted in light of the current state of their needed complementary institutions …
Persistent link: https://www.econbiz.de/10013135809
produce even worse takeover arrangements. This paper puts forward a novel form of federal intervention in the regulation of … that such a federal role in takeover law cannot harm and would likely improve the regulation of takeovers. Moreover, by …The development of U.S. state takeover law in the past three decades has produced considerable and quite possibly …
Persistent link: https://www.econbiz.de/10012787801
There are two commonly accepted views about command-and-control (CAC) environmental regulation. First, CAC delivers … examine India's experience and find evidence that CAC policies achieved substantial environmental benefits at a relatively low … cost. Constructing an establishment-level panel from 1998 to 2009, we find that the CAC regulations imposed by India …
Persistent link: https://www.econbiz.de/10013011089
In collaboration with a state environmental regulator in India, we conducted a field experiment to raise the frequency … these results and recover the full costs of environmental regulation, we model the regulatory process as a dynamic discrete … costs of environmental regulation are largely reserved for extremely polluting plants. Applying the cost estimates to the …
Persistent link: https://www.econbiz.de/10013045290
results suggest reformed incentives for third-party auditors can improve their reporting and make regulation more effective …
Persistent link: https://www.econbiz.de/10013078586
and marketed a rainfall index insurance product across three states in India. Marketing agricultural insurance to both … the insurance market (which is the current regulatory practice in India and other developing countries), makes wage …
Persistent link: https://www.econbiz.de/10013060688
Can managers influence the liquidity of their firms' shares? We use plausibly exogenous variation in the supply of public information to show that firms seek to actively shape their information environments by voluntarily disclosing more information than is mandated by market regulations and...
Persistent link: https://www.econbiz.de/10013083080
Public or partial disclosure of financial data is a key element in the design of a new regulatory environment. We study the costs and benefits of higher public access to financial data and analyze qualitatively how frequency, disclosure lag and granularity of such open data can be chosen to...
Persistent link: https://www.econbiz.de/10013091943
Derivatives exposures across large financial institutions often contribute to - if not necessarily create - systemic risk. Current reporting standards for derivatives exposures are nevertheless inadequate for assessing these systemic risk contributions. In this paper, I explain how a...
Persistent link: https://www.econbiz.de/10013092196
In July 2002, FINRA began mandatory dissemination of price and volume information for corporate bond trades. This paper, using recently released data, measures transparency's effect on trading activity and costs for the entire corporate bond market. Even though trading costs decrease...
Persistent link: https://www.econbiz.de/10013076189