The Determinants of Regulatory Compliance: An Analysis of Insider Trading Disclosures in Italy
This paper investigates the determinants of regulatory compliance in corporate organizations. Exploiting a unique enforcement and reporting framework for insider trading in Italy, we present three main findings. First, board governance, such as chief executive–chairman duality and the proportion of...
| VerfasserInnen: | ; ; ; |
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| Medienart: | Elektronisch Aufsatz |
| Sprache: | Englisch |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Journals Online & Print: | Lade...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Veröffentlicht: |
Springer Science + Business Media B. V
2009
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| In: |
Journal of business ethics
Jahr: 2009, Band: 90, Heft: 3, Seiten: 331 |
| weitere Schlagwörter: | B
Insider trading
B Family firms B Corporate Governance B Italy B Regulation B regulatory compliance |
| Online Zugang: |
Volltext (lizenzpflichtig) |
| Zusammenfassung: | This paper investigates the determinants of regulatory compliance in corporate organizations. Exploiting a unique enforcement and reporting framework for insider trading in Italy, we present three main findings. First, board governance, such as chief executive–chairman duality and the proportion of non-executive directors, does not increase the propensity of firms to comply with regulation. Second, family firms and firms with a high degree of separation of ownership from control are most likely to comply with regulation. Third, corporate ethos is more important in predicting regulatory compliance than explicit corporate governance structures. |
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| ISSN: | 1573-0697 |
| Enthält: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-009-0044-x |