Selling Hope, Selling Risk
Corporations, Wall Street, and the Dilemmas of Investor Protection
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18 732 Ft
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Estimated delivery time: In stock at the publisher, but not at Prospero's office. Delivery time approx. 3-5 weeks.
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Product details:
- Publisher OUP USA
- Date of Publication 23 June 2016
- ISBN 9780190225667
- Binding Hardback
- No. of pages226 pages
- Size 236x157x20 mm
- Weight 422 g
- Language English 0
Categories
Short description:
We have doubts today about how well that task of investor protection is being performed. This book represents the first sustained effort to link the key initiatives of securities regulation with our burgeoning awareness in the social sciences of how people and organizations really behave in a financial world that is at once increasingly sophisticated yet deeply human and incurably flawed.
MoreLong description:
In the midst of globalization, technological change and economic anxiety, we have deep doubts about how well that task of investor protection is being performed. In the U.S., the focus is on the Securities & Exchange Commission. Part of the explanation is economic and political: the failure to know the right balance between investor protection and capital formation, and the resulting battle among interest groups over their preferred solutions. This book's main claim, however, is that regulation is also frustrated at nearly every turn by human nature, as exhibited both on the buy-side (investors) and sell-side (corporate executives, bankers, stockbrokers). There is plenty of savvy and guile, but also ample hope, fear, ego, overconfidence, social contagion and the like that persistently filter and distort the messages regulators try to send. This book is the first sustained effort to link the key initiatives of securities regulation with our burgeoning awareness in the social sciences of how people and organizations really behave in economic settings. It examines why corporate fraud occurs and how best to deter it and compensate its victims; the search for an edge via insider trading; the disclosure apparatus and its gatekeepers; sales efforts and manipulation in Ponzi schemes, internet scams, private offerings and crowdfunding; and how this all helps explain the recent global financial crisis. It ends by turning these insights back on the task of regulation itself, and the strategies (and frustrations) of making regulation work in a financial world that is at once increasingly sophisticated yet deeply human and incurably flawed.
MoreTable of Contents:
Chapter 1: Myths and Skepticism
Chapter 2: Making Sense of Corporate Fraud
Chapter 3: The Insider's Edge
Chapter 4: The Partial Disinfectant of Sunlight
Chapter 5: Selling and Swindling
Chapter 6: Lessons from the Financial Crisis
Conclusion: Chasing the Greased Pig