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...
Auteurs: | ; ; ; |
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Type de support: | Électronique Article |
Langue: | Anglais |
Vérifier la disponibilité: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Publié: |
Springer Science + Business Media B. V
2009
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Dans: |
Journal of business ethics
Année: 2009, Volume: 90, Numéro: 3, Pages: 331 |
Sujets non-standardisés: | B
Insider trading
B Régulation B Family firms B Italy B regulatory compliance B Gouvernement d'entreprise |
Accès en ligne: |
Volltext (lizenzpflichtig) |
Résumé: | 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 |
Contient: | Enthalten in: Journal of business ethics
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Persistent identifiers: | DOI: 10.1007/s10551-009-0044-x |