We introduce the topic of this special issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the special issue at the intersection of law,...

This paper provides an overview of the international business and entrepreneurship implications of Brexit. Our perspective is preliminary and based on a review of the practitioner, policy, and academic literature over the first month following the Brexit vote. We highlight some of the...

We conjecture that angel investment in entrepreneurial firms depends on two types of bankruptcy laws around the world. Corporate bankruptcy laws impact investor terms and incentives to finance risky entrepreneurs, particularly given reforms that brought about a time-efficient, simplified, and...

We consider whether traders are more likely to commit securities violations when trading at home, a new form of working induced by the Covid pandemic. We examine data pre- and post-Covid, during which some traders were unexpectedly forced to work at home. The data indicate the presence of both a...

This chapter reviews theoretical and empirical research on the relationship between legal systems and innovation and culture and innovation. We highlight legal and cultural forces that encourage innovation activities, including strong patent protection, entrepreneur-friendly bankruptcy laws, and...

We show that the presence of high frequency trading (HFT) has significantly mitigated the frequency and severity of end-of-day price dislocation, counter to recent concerns expressed in the media. The effect of HFT is more pronounced on days when end of day price dislocation is more likely to be...

We examine the impact of stock exchange trading rules and surveillance on the frequency and severity of suspected insider trading cases in 22 stock exchanges around the world over the period January 2003 through June 2011. Using new indices for market manipulation, insider trading, and...

In the wake of the global pandemic, a challenge for CEOs and boards is to set a stakeholder-acceptable organizational balance between remote and traditional office working. However, the risks of work-from-home are not yet fully understood. We describe competing theories that predict the effect...

We investigate the relationship between corporate venture capital (CVC) and market manipulation for NASDAQ and NYSE listed companies. The data indicate stock market manipulation significantly drops on average over a two-year period prior to a company forming a CVC. CVC investments in...

Market manipulation are deliberate actions that affect trading activity and corporate policies. We conjecture that market manipulation has unintended consequences also for the ESG policies of the firm. Based on an international sample of monthly data from 2007 to 2018, the data indicate that the...