White-collar criminology scholarship shows that “accounting control frauds” (frauds led by the CEO) use accounting fraud to deceive (or suborn) sophisticated financial market participants. Large control frauds cause greater financial losses than all other forms of property crimes combined....

In the paper was taken problem of money laundering in respect of receiving income and incurring expenses. It was looked at economy as whole and individual entities that are households, companies, government and foreign countries which exercising significant influence on particular government...

In the paper was taken problem of money laundering in respect of receiving income and incurring expenses. It was looked at economy as whole and individual entities that are households, companies, government and foreign countries which exercising significant influence on particular government...

The paper presents a statistical method for measuring the level of informed trading in the UK ahead of regulatory announcements (takeover announcements and trading updates). The measure is based on the use of event studies to identify significant abnormal stock returns ahead of regulatory...

Just as employers face uncertainty when hiring workers, workers also face uncertainty when accepting employment, and bad employers may opportunistically depart from expectations, norms, and laws. However, prior research in economics and information sciences has focused sharply on the employer's...

This article explores the extent to which social capital theory can respond to the crisis in the subprime mortgage markets. Building on the groundbreaking theories of Robert Putnam in his book BOWLING ALONE: THE COLLAPSE AND REVIVAL OF AMERICAN COMMUNITY, this article seeks to explore the role...

When penalties for first-time offenders are restricted, it is typically optimal for the lawmaker to overdeter repeat offenders. First-time offenders are then deterred not only by the (restricted) fine for a first offense, but also by the prospect of a large fine for a subsequent offense. Now...

A prevailing view in the literature is that social sanctions can support, in equilibrium, high levels of obedience to a costly norm. The reason is that social disapproval and stigmatization faced by the disobedient are highest when disobedience is the exception rather than the rule in society....

We investigate the features of optimal regulatory policies composed of pollution standards and probabilities of inspection, where fines for non-compliance depend not only on the degree of violation but also on non-gravity factors. We show that optimal policies can induce either compliance or...