The European Commission's Proposal for a Regulation on European Crowdfunding Service Providers (ECSPs) for businesses, since its presentation, has faced difficult trilateral negotiations among the European Commission, the European Parliament and the Council of the European Union. The length of...

Using a hand collected new data set, this paper examines in detail a classic account of stock market manipulation - the quot;stock poolsquot; of the 1920s, which prompted the current anti-manipulation rules in the United States. We find abnormal trading volume during pools, consistent with...

Professors John C. Coates, IV, and R. Glenn Hubbard have prepared a study entitled, Competition and Shareholder Fees in the Mutual Fund Industry: Evidence and Implications for Policy. I will refer to it henceforth as quot;Coates-Hubbard.quot; The working paper was published in June of 2006 under...

We examine whether conflicts of interest with investment banking and brokerage induce sell-side analysts to issue optimistic stock recommendations and, if so, whether investors are misled by such biases. Using quantitative measures of potential conflicts constructed from revenue breakdowns of...

The growth in numbers of, and of capital managed by, hedge funds as well as their activities have spurred a debate about regulation of hedge funds worldwide. In Germany, however, the discussion focused on the hedge funds' voting behavior and their investment strategies, which is due to the...

This paper examines whether the quality of stock analysts' forecasts is related to conflicts of interest from investment banking and brokerage. We consider four aspects of forecast quality: accuracy, bias and revision frequency of quarterly earnings per share (EPS) forecasts, and relative...

An increasing focus on improved disclosures has been the regulatory thrust of securities regulations since the great crash of 1929. India gave up the merit based system of a controller regulating the issue of securities in favor of the disclosure based regulatory philosophy in 1988. Since then...

This paper examines how the quality of stock analysts' forecasts is related to conflicts of interest from investment banking and brokerage. We consider four aspects of forecast quality: accuracy, bias and frequency of revision of quarterly earnings forecasts, and relative optimism in long-term...

We examine whether conflicts of interest with investment banking and brokerage induce sell-side analysts to issue optimistic stock recommendations and, if so, whether investors are misled by such biases. Using quantitative measures of potential conflicts constructed from revenue breakdowns of...