Using a sample of comparable public listed and private firms from nine European countries, we show that public firms reduce their investments by about 50% more than private firms in periods of elevated policy uncertainty. We find suggestive evidence that this can be explained by public firms'...

The expanded focus on compliance -- The mandate for compliance -- Compliance and ethics : challenges and approaches -- The foundations of compliance : leadership and culture -- Managing compliance : goals and structure -- Policies, communication & training -- Hotlines, whistleblowers, and...