The Financial Reporting Enforcement Panel (FREP) has been examining financial reporting of companies listed in the regulated market in Germany since 1.7.2005. The paper analyzes the enforcement disclosure quality between 2006 and 2008 by comparing the published activity reports of the panel with...

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It...

We investigate the role of enforcement strategy in improving firms' compliance with corporate disclosure regulations. We find that a responsive enforcement strategy developed by the Australian corporate and financial markets regulator, the Australian Securities and Investments Commission (ASIC),...

We run a large-scale natural field experiment to evaluate alternative strategies to en- force compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license fees. We find a strong alert effect of mailings, leading to a substantial increase in...

This paper studies a unique traffic law enforcement campaign in Germany and its impact on road safety. Key features of the campaign are (1) repeated one-day lasting massive speed limit monitoring (so called Blitzmarathons) and (2) a media campaign that informs the public in advance about the...

This paper investigates personal consequences for management executives in the context of financial misreporting exposed by German enforcement institutions. More specifically, we examine CEO and CFO turnover in the context of an error announcement. By doing so, we compare 103 firms that issued...

We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license fees. We find a strong alert effect of mailings, leading to a substantial increase in...

We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license fees. We find a strong alert effect of mailings, leading to a substantial increase in...

We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law. The experiment varies the text of mailings sent to potential evaders of TV license fees. We find a strong alert effect of mailings, leading to a substantial increase in...