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- Publisher
- Wiley
- Copyright
- © American Finance Association
- ISSN
- 0022-1082
- eISSN
- 1540-6261
- DOI
- 10.1111/j.1540-6261.2006.00828.x
- Publisher site
- See Article on Publisher Site
Abstract
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.
Journal
The Journal of Finance – Wiley
Published: Feb 1, 2006