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implementation of the Market Abuse Directive (European Union Directive 2003/6/EC), which strengthens the existing regulation in the … Netherlands. We show that the new regulation reduced the information content of sales by top executives. …
Persistent link: https://www.econbiz.de/10010274331
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10011689945
This paper investigates political uncertainty as a source of regulatory risk. It shows that political parties have incentives to reduce regulatory risk actively: Mutually beneficial pre-electoral agreements that reduce regulatory risk always exist. Agreements that fully eliminate it exist when...
Persistent link: https://www.econbiz.de/10010266082
Persistent link: https://www.econbiz.de/10011696629
I investigate the argument that, in a twoparty system with different regulatory objectives, political uncertainty generates regulatory risk. I show that this risk has a fluctuation effect that hurts both parties and an outputexpansion effect that benefits one party. Consequently, at least one...
Persistent link: https://www.econbiz.de/10010270703
Der Beitrag basiert auf einer Rede, die Claudia M. Buch, Vizepräsidentin der Deutschen Bundesbank, am 11. Juni 2015 auf dem Festakt anlässlich des 100. Geburtstags von Hans Möller an der Ludwig-Maximilians-Universität München gehalten hat. Er gibt einen Überblick über die...
Persistent link: https://www.econbiz.de/10011693862
schädlichen Folgen des Insiderhandels differenziert. Insiderhandel führt zu gesellschaftlich unerwünschten Effekten, sofern sich … darstellen. Gegenüber Positionslimits ist dieses Regulierungsregime zur Bekämpfung von Insiderhandel vorzuziehen. (3 …This paper develops three arguments for the current academic and political debate on an appropriate regulation of …
Persistent link: https://www.econbiz.de/10011733877
The paper deals with the regulation of professions in Italy. It is a very traditional system of regulation based on … inputs control. This regulation is clearly excessive for most of the professions. In fact, market failures - both in terms of …. In fact, it is no longer true - at least for most of the professions - that output regulation is an inherently difficult …
Persistent link: https://www.econbiz.de/10011608310
Our study analyzes a large sample of transactions carried out by corporate insiders reported to the German regulatory authority BaFin in the period July 1, 2002 to April 30, 2005 employing event study methodology. In particular, we focus on the question whether corporate insiders exploit inside...
Persistent link: https://www.econbiz.de/10010301781
are distorted in the period between the trading and the reporting date. This is a strong point in favor of regulation …
Persistent link: https://www.econbiz.de/10010302546