Bajo, E. and Bigelli, M. and Hillier, D.J. and Pertacci, B. (2009) The determinants of regulatory compliance : an analysis of insider trading disclosures in Italy. Journal of Business Ethics, 90 (3). pp. 331-343. ISSN 0167-4544
Full text not available in this repository. (Request a copy from the Strathclyde author)Abstract
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.
| Item type: | Article |
|---|---|
| ID code: | 28372 |
| Keywords: | regulatory compliance, corporate governance, insider trading, regulation, Italy, family firms, Finance |
| Subjects: | Social Sciences > Finance |
| Department: | Strathclyde Business School > Accounting and Finance |
| Related URLs: | |
| Depositing user: | Miss Donna McDougall |
| Date Deposited: | 19 Oct 2010 14:10 |
| Last modified: | 17 May 2013 15:14 |
| URI: | http://strathprints.strath.ac.uk/id/eprint/28372 |
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