Financial market misconduct and agency conflicts: A synthesis and future directions

被引：78
|
作者：
Cumming, Douglas [1 ]
Dannhauser, Robert [2 ]
Johan, Sofia [1 ,3 ]
机构：
[1] York Univ, Sculich Sch Business, Toronto, ON M3J 1P3, Canada
[2] CFA Inst, Global Capital Markets Policy, New York, NY 10022 USA
[3] Tilburg Univ, Tilburg Law & Econ Ctr, NL-5000 LE Tilburg, Netherlands
来源：
JOURNAL OF CORPORATE FINANCE | 2015年 / 34卷
关键词：
Financial market misconduct; Fraud; Insider trading; Regulation; Enforcement; Law and finance; STOCK-PRICE MANIPULATION; CORPORATE; FRAUD; LAW; DETERMINANTS; INCENTIVES; MANAGERS; RETURNS; IMPACT;
D O I：
10.1016/j.jcorpfin.2015.07.016
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper reviews recent research on the causes and consequence of different forms of financial market misconduct and potential agency conflicts and the impact of regulating financial market misconduct. We examine regulatory responses to financial market misconduct and highlight the presence of complementarities in financial market misconduct regulation and enforcement. We feature papers that make use of natural experiments, rule changes, and market design changes. Further, the interdisciplinary nature of financial market misconduct research is highlighted, and potential avenues for future research are discussed. (C) 2015 Elsevier B.V. All rights reserved.
引用
收藏
页码：150 / 168
页数：19
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