Downside risk in stock prices is a significant focus in stock investment. This study investigates how the legal origin of each country affects its property rights and the rule of law, and how these property rights and the rule of law affect the downside risk of the stock market differently....

This paper examines how cooperation between national securities regulators affects equity market liquidity, using the International Organization of Securities Commissions' (IOSCO's) Multilateral Memorandum of Understanding (MMoU) as a shock to cooperation. The MMoU was set up to protect...

This study tests whether cooperation between securities regulators influences global market integration. I measure cooperation using arrangements between securities regulators that enable enhanced cross-border enforcement, better regulatory decisions, and reduced compliance obligations for...

The present paper explores, theoretically, and empirically, whether compliance with the International Code of marketing of breast-milk substitutes impacts on financial performance measured by stock markets. The empirical analysis, which considers a 20-year period, shows that stock markets are...