Journal article
Regulatory sanctions and reputational damage in financial markets
- Abstract:
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We study the impact of the enforcement of financial regulation by the United Kingdom’s regulatory authorities on the market price of penalized firms. Existing studies rely on analyses of multiple events that may distort the measurement of reputational losses. In the United Kingdom, the entire enforcement process involves only one public announcement and is accompanied by complete information on legal penalties. We find that reputational losses are nearly nine times the size of fines and are a...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
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Access Document
- Files:
-
-
(Accepted manuscript, pdf, 616.7KB)
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- Publisher copy:
- 10.1017/s0022109017000461
Authors
Bibliographic Details
- Publisher:
- Cambridge University Press Publisher's website
- Journal:
- Journal of Financial and Quantitative Analysis Journal website
- Volume:
- 52
- Issue:
- 4
- Pages:
- 1429-1448
- Publication date:
- 2017-07-03
- Acceptance date:
- 2015-12-16
- DOI:
- ISSN:
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0022-1090 and 1756-6916
Item Description
- Language:
- English
- Keywords:
- Pubs id:
-
pubs:585514
- UUID:
-
uuid:f085a158-3ff1-4018-8cf6-ee5a672ec635
- Local pid:
- pubs:585514
- Source identifiers:
-
585514
- Deposit date:
- 2019-10-08
Terms of use
- Copyright holder:
- Michael G Foster School of Business, University of Washington
- Copyright date:
- 2017
- Notes:
- © Michael G. Foster School of Business, University of Washington 2017. This is the accepted manuscript version of the article. The final version is available online from Cambridge University Press at: https://doi.org/10.1017/s0022109017000461
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