Showing 31 - 40 of 71,240
This paper studies the deterrent effect of criminal enforcement on white-collar criminal activities. Using the 9/11 terrorist attacks as a shock to the FBI's allocation of investigative resources and priorities, and variations in the Muslim population in the United States as a measure of...
Persistent link: https://www.econbiz.de/10012928376
We examine whether a shock to the enforceability of Regulation Fair Disclosure (Reg FD) limited its ability to restrict the flow of private information between managers and investors. Although prior work provides evidence that Reg FD reduced managers’ selective disclosure of material...
Persistent link: https://www.econbiz.de/10014238703
This Article describes and comments on criminal insider trading prosecutions brought over an eleven-year period. The core common element among these cases is that they all involve alleged tipper/tippee insider trading or misappropriation insider trading implicating information transfers between...
Persistent link: https://www.econbiz.de/10014240506
We examine the firm-level consequences of financial reporting enforcement investigations using proprietary data on risk-based and randomly selected investigations in Germany. We find that risk-based firms take longer to file financial reports, become opaque, and experience abnormal returns of...
Persistent link: https://www.econbiz.de/10013247783
Despite the significant attention that market manipulation has received in recent years many aspects of it are poorly understood. This article identifies from the theoretical and empirical literature what we do and do not know about market manipulation, and suggests directions for future...
Persistent link: https://www.econbiz.de/10013127395
Financial reporting fraud and other forms of financial reporting misconduct are a significant threat to the existence and efficiency of capital markets. This study reviews the literature on financial reporting misconduct from the perspectives of law, accounting, and finance. Our goals are to...
Persistent link: https://www.econbiz.de/10012933126
This paper discusses the empirical literature on the economic consequences of disclosure and financial reporting regulation, drawing on U.S. and international evidence. Given the policy relevance of research on regulation, we highlight the challenges with (1) quantifying regulatory costs and...
Persistent link: https://www.econbiz.de/10012935619
In 2010, Morrison v. National Australia Bank Ltd. destabilized the world of securities litigation by denying those who purchased their securities outside the U.S. the ability to sue in the U.S. (as they had previously often done). Nature, however abhors a vacuum, and practitioners and other...
Persistent link: https://www.econbiz.de/10012849595
This paper surveys the theoretical and empirical literature on the economic consequences of financial reporting and disclosure regulation. We integrate theoretical and empirical studies from accounting, economics, finance and law in order to contribute to the cross-fertilization of these fields....
Persistent link: https://www.econbiz.de/10012725094
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...
Persistent link: https://www.econbiz.de/10012728918