Promoting information in the marketplace for financial services : financial market regulation and international standards / Paul Latimer, Philipp Maume.
This book provides a unique comparative and global analysis of the regulation of disclosure in financial (securities) markets. It is written by two authors who represent both the new world (Australia) and the old world (Germany). The authors present their research in the global business context, wit...
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| Language: | English |
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Springer,
[2014]
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Table of Contents:
- Preface; Dictionary; List of Abbreviations; Contents; Chapter 1: Introduction: Promoting Information; 1.1 Background and Motivation; 1.2 The Broad Issues of Disclosure; 1.2.1 The Importance of Disclosure in Financial Markets; 1.2.2 The Regulation of Financial Markets; 1.2.3 Why Is Failed Disclosure Unfair to Stakeholders, Investors, Shareholders, Governments, Regulators?; 1.2.4 Three Problems of Information Disclosure; 1.2.4.1 Cost of Disclosure; 1.2.4.2 Conflict of Interest; 1.2.4.3 How to Promote Information; 1.3 Research Question and Objectives of This Book; 1.4 Outline.
- 1.4.1 Chapter 1: Introduction
- Promoting Information1.4.2 Chapter 2: Disclosure of Financial and Non-financial Information in the Marketplace; 1.4.3 Chapter 3: How Should Financial Markets Be Regulated to Ensure That Information Is Provided?; 1.4.4 Chapter 4: Promoting Information Under Broker/Client Rules at Common Law and in Equity; 1.4.5 Chapter 5: The Failure of Industry Licensing to Keep the Market Informed
- Obligation to Provide Financial Services ̀Eff...; 1.4.6 Chapter 6: The Ability of the Commission to Achieve Disclosure in Financial Markets.
- 1.4.7 Chapter 7: Stock Exchanges and the Promotion of Information1.4.8 Chapter 8: Towards Principles-Based Regulation; 1.5 Solutions and Recommendations; References; Chapter 2: Disclosure of Financial and Non-financial Information in the Marketplace; 2.1 Why Disclosure? Disclosure of Financial and Non-financial Information; 2.1.1 The Implications of Information Asymmetries; 2.1.2 The Philosophy and Purposes of Promoting Information in the Marketplace (Disclosure); 2.1.3 Efficient Capital Market Hypothesis (ECMH Disclosure); 2.1.4 Implications; 2.2 Voluntary Disclosure.
- 2.3 Mandatory Disclosure as a Response to the Failure of the Market to Provide Information2.3.1 Introduction; 2.3.1.1 Definition of Mandatory Disclosure; 2.3.2 In Support of Mandatory Disclosure; 2.3.2.1 Mandatory Disclosure Promotes Investor Confidence; 2.3.2.2 Mandatory Disclosure Promotes Allocational Efficiency; 2.3.2.3 Mandatory Disclosure Discourages Fraud and Misrepresentations; 2.3.2.4 Mandatory Disclosure Promotes Accountability; 2.3.2.5 Empirical Evidence; 2.4 Mandatory Continuous Disclosure; 2.5 Three Problems with Mandatory Disclosure.
- 2.5.1 The First Problem of Mandatory Disclosure: Information Is Not Cost Free2.5.2 The Second Problem of Mandatory Disclosure: Conflict of Interest; 2.5.2.1 Input into New Laws; 2.5.2.2 Conflicts of Interest on Disclosure: Agency Costs; 2.5.2.3 Differential Disclosure: Beaver; 2.5.3 The Third Problem of Mandatory Disclosure: How to Promote Information and Facilitate Disclosure?; Conclusion; References; Chapter 3: How Should Financial Markets Be Regulated to Ensure That Information Is Provided?; 3.1 Introduction.