named in a sanction report, as an offender, an acquitted, or a victim of others' financial misconduct conveys information to … after both the sanction decision, and its publication (respectively -0.9% and -1.1% from the day preceding the event until 3 … correction on the market, depending on the step of the procedure. Finally, companies named in a sanction report as victims of …

This paper examines the spillovers of the sanction procedures on listed companies which were victims of others … suffer, on average, significant negative abnormal returns after the sanction. Naming victims hence may possibly be synonym of …

against it, i.e., cases of fraud or cheating, or payment default attract a much more negative reaction as compared to cases …

: opening of an investigation by the AMF; issuance of a monetary sanction; publication of the information about sanction a … newspaper. The reputational impact issue raises the broader issue of understanding of financial regulation enforcement operates … in concreto. We find a strong negative impact of the announcement of sanction in press on the firms' stock prices. We …