Sunday, November 24, 2013
The CFA Institute, the Journal of Corporate Finance, and the Schulich School of Business are sponsoring a Conference on Financial Misconduct, April 3-4, 2014, in Toronto, Canada. Deadline for submissions is December 15, 2013. You can go here for all the information. What follows is the stated rationale, along with suggested research questions.
Financial market misconduct erodes investors trust, and in turn influences stock market liquidity and performance, and exacerbates volatility. Financial market misconduct includes but is not limited to fraud. Despite the widespread media attention on market misconduct, the causes and consequences of market misconduct are often misunderstood and under researched around the world. The evolving structure of markets gives rise to new work on topic
This international conference will provide a timely debate on financial market misconduct. The conference also encourages, but does not require, submission to the Journal of Corporate Finance. Papers submitted to the Journal of Corporate Finance would go through the normal review process.
Some research questions that contributors to the conference might address are:
- Is market misconduct more common in different countries or across different exchanges? If so, what types (earnings management, insider trading, market manipulation, dissemination of false and misleading information, other)?
- What are the causes of international differences in expected or detected misconduct?
- What are the consequences of market misconduct, and do they differ across countries or exchanges?
- Can regulation be designed to improve ethical standards and corporate governance?
- Does high frequency trading mitigate or exacerbate market misconduct?
- Does crowdfunding facilitate potential financial market misconduct, and how might such potential misconduct be mitigated through regulation?
- Do intermediaries such as lawyers, auditors, and investment bankers mitigate or exacerbate financial market misconduct?
- Is financial market misconduct exacerbated or mitigated under different types of ownership, such as government, institutional, or family ownership?
- How is market misconduct related to activist investors such as venture capital, private equity, and hedge fund investors?
- How is fraud risk and ethics priced in markets?
- How does the risk of market misconduct affect corporate valuation?
- To what extent has the failure of regulation and reporting standards exacerbated the incidence of market misconduct and the recent financial crisis?
- What encourages the adoption of ethical standards in public firms versus private firms?
- Related research questions on both publicly traded and privately held institutions are welcome.