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financial service firms may add to their own compliance teams or hire outside compliance advisors. We derive the conditions … under which a financial services firm will want to hire a compliance services company, and show how much money they should … compliance costs and higher profit advantages they confer may lead to more regulation. Regulators may furthermore tighten …
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-based liability. In this paper, we study the determinants of compliance when in addition to standard economic incentives wrongdoers …
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It is entirely appropriate that the study of public finance take seriously behavioral" inconsistencies with traditional models of individual and collective decision-making. This raises the question of whether the state should play a role in protecting individuals from themselves, and whether...
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This paper investigates the design of a leniency policy to fight corporate crime. We explicitly take into account the agency problem within the firm. We model this through a three-tier hierarchy: authority, shareholder, and manager. The manager may breach the law and report evidence to the...
Persistent link: https://www.econbiz.de/10010318772