The EU General Data Protection Regulation (GDPR) of 2018 introduced stringent transparency rules compelling firms to … requirement are objective, and its compliance is easily verifiable; readability, however, is subjective and difficult to enforce … firms. We use text-as-data techniques to construct measures of disclosure and readability and show that firms increased the …

Some regulation is needed to enhance growth and economic welfare, but too much undermines productivity. Generally, the …

& Immordino (2007), we study the optimal regulation of CRAs in a model where rating quality is unobservable and enforcing … regulation is costly. The model shows that minimum rating standards increase the social value of credit ratings. The model also … analyzes implications for regulation in the presence of conflicts of interest between the CRA and the rated clients by direct …