Doctoral Dissertation Research: Voluntary Firm Practices and Paths to Regulation

SES#：1002629PI：David C.StarkCo-Pi：Dennis Bogusz哥伦比亚大学为什么监管机构强制要求公司自愿采用的做法？在这项研究中，将创建一个数据集，其中包括美国和其他九个国家的法规、股票上市规则和公司治理标准。自愿做法将从总部设在重点国家的大约1500家上市公司的年度报告和其他公司披露中确定。法规和自愿行为的数据跨度从1989年到2008年。定性的比较分析将通过因果条件的组合来解释国家内部和国家之间的各种监管路径。最重要的是最初自愿做法的盛行。解释向监管过渡的其他条件包括公司治理丑闻的历史、资本市场的发展以及每个国家的政治和法律框架。更广泛的影响：由此产生的数据集将成为其他热衷于理解部分植根于公司行为的监管变化的学者的宝贵研究工具。此外，这项研究有助于阐明资本市场中的关系，使行业领袖、监管者和政策制定者受益。这些关系虽然经常被忽视，但却是监管改革的关键。

SES#: 1002629PI: David C. StarkCo-PI: Dennis BoguszColumbia UniversityWhy do regulators mandate practices that firms already employ voluntarily? In the research, a dataset will be created of regulations, stock market listing rules and corporate governance standards from the United States and nine other countries. Voluntary practices will be ascertained from annual reports and other corporate disclosures from roughly 1500 listed companies headquartered in the focal countries. Data for both regulations and voluntary practices span the period from 1989 to 2008. Qualitative comparative analysis will explain the various paths to regulation, both within and between the countries, through combinations of causal conditions. Foremost is the prevalence of originally voluntary practices. Additional conditions that explain the transition to regulation include a history of corporate governance scandals, capital market development, and the political and legal framework of each country. BROADER IMPACTS: The resulting dataset will become a valuable research tool for other scholars keen on understanding regulatory change partially rooted in firm behavior. Further, this research stands to benefit industry leaders, regulators and policymakers by elucidating relationships in the capital markets that, although often overlooked, are key to regulatory reform.