New PDF release: Ad-hoc disclosure - A law and economics approach

By Veronika Fischer

ISBN-10: 3640368703

ISBN-13: 9783640368709

degree Thesis from the 12 months 2006 within the topic legislations - Comparative criminal platforms, Comparative legislations, grade: 1,3, collage of Augsburg (Prof. Dr. Möllers), path: Diplomarbeit, language: English, summary: the industrial research of the obligation of ad-hoc disclosure and similar matters during this paper ended in the next conclusions: as a result of info asymmetries among issuers and traders, a regula-tion of the foundations of disclosure is critical, which reduces the motivation for person traders to expensive assemble info, and move this in-formation technique onto issuers. The legislator‟s aim for such cause are available within the safeguarding of capital industry potency as to either right pricing and liquidity (or adequate investor participation). the obligation of ad-hoc disclosure should still totally be transferred to the supplier, because it is the most affordable price avoider and has enough personal pursuits to supply right and well timed info. however, laws needs to keep away from that the provider should be held answerable for details as though it used to be recommendation via detail-ing which info should be given during which shape. moreover, it has to be ensured that traders should not flooded with details, yet that just a brilliant volume of pertinent details rather than ads details is released. For the lesion of this accountability of disclosure, not just the provider as an entity, yet in addition the board contributors could be held responsible, as this introduces extra incentives for compliance and provides accountable capital for attainable broken events. however, either legislator and jurisdiction must restrict the chance of abusive investor claims, that are prone to ensue in this sort of constellation. If legal responsibility for faulty ad-hoc disclosure should be tested, the presented harm might be out-of-pocket degree, because it limits legal responsibility to the particular quantity of wear and tear and doesn't move the chance of an funding in a fashion inconsistent with the final ideas of the capital marketplace. in addition, it presents merits in processing a number of claims and will be unequivocally made up our minds by means of a finance-mathematical approach according to the Capital Asset Pricing Model.

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Ad-hoc disclosure - A law and economics approach by Veronika Fischer

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