Globalization and financial crisis's in the past two decades affected the confidence and credibility of the regulations in the capital market system worldwide. Following Madoff case in the states and Northern rock in England, numerous criticisms for the market observers, politician, investor and...

We study a model where some investors ("hedgers") are bad at information processing, while others ("speculators") have superior information-processing ability and trade purely to exploit it. The disclosure of financial information induces a trade externality: if speculators refrain from trading,...

Corporate Law does not recognize the term ‘investor' and, for the sake of efficiency, limits the minimum percentage of ownership to become the controlling shareholder. This deficiency results in the implementation of corporate governance which indicates power sharing between management (board...

This is a draft chapter for a forthcoming volume, The Oxford Handbook on Financial Regulation, edited by Eilís Ferran, Niamh Moloney, and Jennifer Payne, (Oxford University Press). It provides an overview of the role of mandatory disclosure in financial markets. Focusing mainly on issuer...