Purpose: This paper aims to show that market power exists in financial markets and analyze how spoofing is used by a high-frequency trader to build market power by taking advantage of both behavioral weaknesses of individual investors and microstructural loopholes of trading venues....

Purpose: The purpose of this paper is to understand why managers, internal auditors and compliance staff (in financial firms specifically and using Malaysia as a concrete example) can want to ignore compliance-related legislation (a law on anticompetitive behaviour in this case)....

Purpose: By modelling China’s property price changes and their effect on GDP, this study aims to develop a more general model of the costs and benefits driving price bubbles. Design/methodology/approach: The authors develop a five-sector dynamic model (using data from China and seven other...

Purpose: This paper aims to derive the conditions under which a financial services firm will want to hire a compliance services company and show how much money they should spend. Design/methodology/approach: This paper uses a mathematical model to show the intuition behind many of the...

Purpose – The purpose of this article is to assess the extent to which Hong Kong’s laws deter its companies from engaging in corruption and bribery abroad. Design/methodology/approach – A mix of economics, public administration, management and legal analysis was used to assess weaknesses...

Purpose – This paper aims to present to capital market regulators (particularly in Turkey) with options for regulating the quickly expanding area of socially responsible investment (SRI). Design/methodology/approach – The paper takes a public economics perspective, focusing on the social...

Purpose – The penetration of foreign banks into emerging markets has been linked with financial sector deepening and expansion of credit. However, there is little research into the interaction of financial sector institutions with broader transition and development dynamics. The purpose of...

Purpose – Macedonian municipalities should pass anti‐corruption ordinances in order to reduce corruption. The purpose of this paper is to review the legal issues involved in drafting such ordinances and provide legal advisors to local councils with the legal and economic analysis needed to...