Download This PaperWhat Works in Securities Law?
37 Pages Posted: 5 Aug 2003 Last revised: 2 Jan 2022
There are 2 versions of this paper
Date Written: August 2003
Abstract
We examine the effect of securities laws on stock market development in 49 countries. We find almost no evidence that public enforcement benefits stock markets, and strong evidence that laws facilitating private enforcement through disclosure and liability rules benefit stock markets.
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European Corporate Governance Institute (ECGI)
c/o the Royal Academies of Belgium
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Belgium
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