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...
| Authors: | ; ; ; |
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| Tipo de documento: | Recurso Electrónico Artigo |
| Idioma: | Inglês |
| Verificar disponibilidade: | HBZ Gateway |
| Journals Online & Print: | Carregar...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Publicado em: |
Springer Science + Business Media B. V
2009
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| Em: |
Journal of business ethics
Ano: 2009, Volume: 90, Número: 3, Páginas: 331 |
| Outras palavras-chave: | B
Insider trading
B Regularização B Family firms B Governança corporativa B Italy B regulatory compliance |
| Acesso em linha: |
Volltext (lizenzpflichtig) |
| Resumo: | 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 |
| Obras secundárias: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-009-0044-x |