We examine the capital-market effects of changes in securities regulation in the European
Union aimed at reducing market abuse and increasing transparency. To estimate causal …

We analyze the impact of financial globalization on business cycle synchronization using a
proprietary database on banks' international exposure for industrialized countries during …

Private law has long been the focus of efforts to explain wider developments of law in an era
of globalisation. As consumer transactions and corporate activities continue to develop with …

Although recent research shows that the euro has spurred cross-border financial integration,
the exact mechanisms remain unknown. We investigate the underlying channels of the …

Corporate transparency reduces information asymmetries between firms and capital markets
but increases the costs associated with information leakage to competitors. We explore how …

States with large markets routinely compete with one another to shield domestic regulatory
policies from global pressure, export their rules to other jurisdictions, and provide their firms …

This article explores the reasons for legal fragmentation and extraterritoriality in the global
regulation of finance. It shows that duplicative and overreaching rules are not necessarily …

European corporate law has enjoyed a renaissance in the past decade. Fifteen years ago,
this would have seemed most implausible. In the mid–1990s, the early integration strategy of …

Financial technology (FinTech) revolutionizes the way in which financial services are
rendered Although this phenomenon is not new, it has taken on a novel dimension. Markets …

This paper examines capital market effects of changes in securities regulation. We analyze
two key capital market directives in the European Union (EU) that tightened market abuse …