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 0167-4544Full text not available in this repository. (Request a copy from the Strathclyde author)
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.
|Keywords:||regulatory compliance, corporate governance, insider trading, regulation, Italy, family firms, Finance, Business, Management and Accounting(all), Economics and Econometrics, Business and International Management, Law|
|Subjects:||Social Sciences > Finance|
|Department:||Strathclyde Business School > Accounting and Finance|
|Depositing user:||Miss Donna McDougall|
|Date Deposited:||19 Oct 2010 13:10|
|Last modified:||04 May 2016 17:18|