The objective of this paper is to provide a critical appraisal of the rationales for mandatory corporate disclosure rules. Following preliminary observations concerning voluntary disclosure, the authors commence the main discussion with an examination of various rationales for mandatory...

There has been a lack of analysis of the justification for trustees in collective investment schemes. Yet a study of the topic is pertinent because of the prominent position occupied by trustees in certain schemes. One possible justification for trustees, considered in this paper, is the...