Journal of Finance Vol. 61 No. 1 2006
What Works in Securities Laws?
open access
Abstract
We examine the effect of securities laws on stock market development in 49 countries. We find little evidence that public enforcement benefits stock markets, but strong evidence that laws mandating disclosure and facilitating private enforcement through liability rules benefit stock markets.
- DOI
- 10.1111/j.1540-6261.2006.00828.x
- Volume
- 61
- Issue
- 1
- Pages
- 1-32
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref