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What Works in Securities Laws?

Author

Listed:
  • Rafael LaPorta
  • Florencio Lopez-de-Silanes
  • Andrei Shleifer

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.

Suggested Citation

  • Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, "undated". "What Works in Securities Laws?," Working Paper 19491, Harvard University OpenScholar.
    • Handle: RePEc:qsh:wpaper:19491
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    File URL: http://scholar.harvard.edu/shleifer/node/19491
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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