Statistics reporting litigated cases of
fraud on an exchange-by-exchange basis are not
readily available to investors. This
paper introduces data from three countries with multiple
exchanges operating under different
listing standards, – Canada, the United Kingdom and the
United States – to show litigated cases
of fraud significantly vary by country, and the different
exchanges within the country.
Comparisons are also made to Brazil, China and Germany to
assess out-of-sample inferences. The
data examined suggest there are significant differences in
the nature of observed fraud across
exchanges within the United States; by contrast, outside the
United States there appears to be a
comparative lack of enforcement. The data also suggest
policy implications for the ways in
which fraud should ideally be reported to improve investor
knowledge,
market transparency and market quality.. Read the study
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.