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Why Regulators Must Fight 'Control Fraud' Like Public Health Specialists
Black, William K. - 2010
“Control fraud” is the leading cause of bank failures and financial crises. In “control fraud” the persons controlling … of control fraud: the savings & loan debacle of the 1980s and the ongoing financial crises that first became acute in the … the pathogen. The anopheles mosquito is a vector for malaria. The financial world incurs epidemics of fraud when there is …
Persistent link: https://www.econbiz.de/10013148987
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Private Enforcement and EU Market Abuse Regulation : A Discussion on Direct (Class) Actions and Derivative Actions
Zouridakis, Georgios; Papadopoulos, Thomas - 2023
Within the past decade, the EU has made significant steps in strengthening and harmonising the legal framework of capital markets. Despite passing and amending secondary legislation on this topic, it only partially addressed the issue of enforcement, leaving private enforcement an issue for its...
Persistent link: https://www.econbiz.de/10014261793
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Civil Liability of Rating Agencies - Regulatory All-or-Nothing Approaches between Immunity and Over-Deterrence
Haar, Brigitte - 2013
Civil liability of rating agencies has to strike a balance between over-deterrence and overly lax behavior control. The resulting problems of a capital market freeze and difficulties of proof, as they become apparent in most legal systems and the European Commission's Draft Proposal to amend the...
Persistent link: https://www.econbiz.de/10013088984
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The Rise of the Regulatory State
Glaeser, Edward L.; Shleifer, Andrei - 2003
During the Progressive Era at the beginning of the 20th century, the United States replaced litigation by regulation as the principal mechanism of social control of business. To explain why this happened, we present a model of choice of law enforcement strategy between litigation and regulation...
Persistent link: https://www.econbiz.de/10014123213
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M&A Break Fees : US Litigation vs. UK Regulation
Coates, IV, John C. - 2010
This paper contrasts UK and US governance of M&A break fees to see what the contrast can teach us about trade-offs between litigation and regulation as modes of governance, including how laws change under each regime over time. Data on 1,136 bids in 1989-2008 and 61 fee disputes show: (1) the UK...
Persistent link: https://www.econbiz.de/10013150915
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Gatekeepers and Corporate Governance : Regulatory Reflections on Market Collapse from the Enron Scandal to the Financial Crisis of 2008
Huang, (Robin) Hui - 2015
This article represents one of the pioneering efforts in the Chinese literature to systematically examine the role of gatekeepers in corporate governance. It seeks to explain how gatekeepers may function and malfunction, in light of the Enron scandal and the financial crisis of 2008, and draw...
Persistent link: https://www.econbiz.de/10013036545
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Financial impact of regulatory sanctions on French listed companies
Batz, Laure de - 2018
This paper assesses the information content of sanctions of listed companies pronounced by the French Financial Market Authority, through reactions from financial markets over the period 2004 to 2016. We answer whether, for a listed company, being named in a sanction report, as an offender, an...
Persistent link: https://www.econbiz.de/10011845161
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Regulating Against White Collar Crime in the Financial Services Sector
Gilligan, George - 2013
As globalization gather pace, national economies are becoming more internationalized and inter-dependent, and the power of individual nation states is being diminished in relative terms. Increasingly individual countries are less able to control their national economies. One consequence of these...
Persistent link: https://www.econbiz.de/10013087081
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Financial scandals : a historical overview
Toms, Steven - In: Accounting and business research 49 (2019) 5, pp. 477-499
Persistent link: https://www.econbiz.de/10012225959
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Regulatory actions against corporate irregularities in India : analyzing the stock market impact
Jain, Prateek - In: Cogent economics & finance 10 (2022) 1, pp. 1-11
against it, i.e., cases of fraud or cheating, or payment default attract a much more negative reaction as compared to cases …
Persistent link: https://www.econbiz.de/10014500262