Hong Kong's “Principles of Responsible Ownership,” issued by its Securities and Futures Commission, offer a telling example of what it means to be an international financial centre in 21st century Asia. The point of this stewardship code is to nudge institutional investors toward responsible...

This paper examines the rise of fintech, its regulation, and the particular challenges these present for an international financial center (IFC), specifically an IFC with limited economic breadth. Fintech offers automation opportunities for financial institutions, and such automation will in...

Hostile takeovers are usually conceived as open market transactions to dispersed shareholders, who have to make a decision on complex issues within a short timeframe. Aside from the simple fact that shareholders have a right to sell their shares, the risks takeovers present to market integrity...

This paper views corruption as arising from a conflict of interests, in which the corrupt actor pursues a private interest at the expense of an official or professional duty. In this way, conflicts of interest are at the root of corrupt behaviour in both the public and the private sector. Such...

If China was the startup economy star of the late 20th century, Hong Kong was its main angel investor. But Hong Kong's roles in supporting the economic development of China go well beyond investment. During the Cold War, Hong Kong helped China through the pressures of allied embargo and today...

The market of a successful financial center must be efficient, orderly and fair, which requires that investor protection rules be enforced effectively. While a substantial literature exists promoting privately driven enforcement of investor protection rules, there is a growing consensus that...