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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格式: | 电子 文件 |
语言: | English |
Check availability: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
出版: |
Springer Science + Business Media B. V
2009
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In: |
Journal of business ethics
Year: 2009, 卷: 90, 发布: 3, Pages: 331 |
Further subjects: | B
企业管理
B Insider trading B Family firms B Italy B Regulation B regulatory compliance |
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Volltext (lizenzpflichtig) |
总结: | 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 |
Contains: | Enthalten in: Journal of business ethics
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Persistent identifiers: | DOI: 10.1007/s10551-009-0044-x |