{"title":"What Works in Securities Law","authors":"Florencio López‐de‐Silanes","doi":"10.3386/w9882","DOIUrl":null,"url":null,"abstract":"We examine the effect of securities laws on stock market development in 49 countries. We find little evidence that public enforcement benefits stock markets, but strong evidence that laws mandating disclosure and facilitating private enforcement through liability rules benefit stock markets.","PeriodicalId":393808,"journal":{"name":"Berkeley Program in Law & Economics","volume":"58 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2005-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"76","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Berkeley Program in Law & Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3386/w9882","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 76
Abstract
We examine the effect of securities laws on stock market development in 49 countries. We find little evidence that public enforcement benefits stock markets, but strong evidence that laws mandating disclosure and facilitating private enforcement through liability rules benefit stock markets.
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