Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation - Hardcover

Über die Autorin bzw. den Autor

CAROL ALEXANDER, Ph.D., is Professor of Finance at the University of Sussex, Visiting Professor at Peking University PHBS Business School in Oxford and Co-Editor of the Journal of Banking and Finance. She is the former Chair of the Board of the Professional Risk Manager’s International Association and she consults on model design for major exchanges, banks, and fund managers worldwide. She has edited more than a dozen books in finance and risk management and her sole-authored four-volume textbook on Market Risk Analysis (Wiley, 2008) remains the definitive guide to the subject after more than 12 years in print.

DOUGLAS CUMMING J.D., Ph.D., CFA, is the DeSantis Distinguished Professor of Finance and Entrepreneurship at the College of Business, Florida Atlantic University, and Visiting Professor of Finance at Birmingham Business School, University of Birmingham, and Royal Melbourne Institute of Technology. He has published 18 books and over 185 articles in leading journals such as the Academy of Management Journal, Journal of Financial Economics, and Review of Financial Studies, which have been cited over 15,000 times. He is the Managing Editor-in-Chief of the British Journal of Management and Journal of Corporate Finance, and the Founding Editor-in-Chief of the Review of Corporate Finance.

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PRAISE FOR CORRUPTION AND FRAUD IN FINANCIAL MARKETS

"Financial market fraud and corruption are undoubtedly costly to investors in developed and developing countries around the world. In the ongoing fight to mitigate those costs, this book is a valuable resource – it provides deep insights and helpful tools for all pertinent stakeholders."
―John Archibald, Principal, Investigation Counsel P.C., Toronto, Canada

"The best new research resource in 40 years for those concerned with transparency, compliance, and enforcement in financial markets due to fraud and corruption. Crypto, manipulation, non-disclosure, illegal trading and other evils to the market have been around for a long time. Now, finally, there is a comprehensive study to guide the good – lawyers, financial practitioners, policymakers, students, academics, and enforcement authorities."
―Paul Bates, LL.M., Barrister, Canada and U.K., www.batesbarristers.com, Outer Temple Chambers, London U.K.

"This book offers many useful insights on corporate fraud and securities market manipulation. The chapters prepared by world leading academics and practitioners assess the determinants of fraud and manipulation, the associated costs, and the regulatory responses in different countries around the world. I believe it is a vital resource for academics, practitioners, and policymakers alike."
―Prof. Jeffrey G. MacIntosh, Professor & Toronto Stock Exchange Chair in Capital Markets Law; Faculty of Law, University of Toronto

"This essential text covers the entire ground of financial market fraud and misbehaviour, including important related areas such as misleading financial reporting and bribery. It is a key resource for those working in financial markets, law, public policy, and academia."
―Bryce C. Tingle, N. Murray Edwards Chair in Business Law, University of Calgary; Director - Financial Markets Regulation Programme, The School of Public Policy

"Growing evidence of high-level corruption in some of the most developed states, market turbulence and the role of vested interests in both contributing to the causes and benefitting from such crises, makes the study of fraud malpractice in financial markets ever more important. This collection is both timely and prescient, and advances our understanding around a broad range of salient issues."
―Prof. Geoffrey Wood, DanCap Chair of Innovation and Head of DAN Management, Western University, Canada; Visiting Professor, Trinity College, Dublin

Aus dem Klappentext

The comprehensive resource for understanding fraud and corruption in the marketplace

According to two recent studies, each year financial market misconduct and fraud affects about 15% of publicly listed companies and it can cost between 20% and 38% of the company’s value. Corruption and Fraud in Financial Markets offers a much-needed guide that examines the various types of market manipulation and financial fraud and describes the myriad factors that mitigate or exacerbate the occurrence of fraud and manipulation such as insider trading, price manipulation, volume manipulation, spoofing, false disclosure, improper broker-agency relationships and improper execution. It also reviews bribery, financial restatements, options backdating and other common types of accounting fraud and conflicts of interest, and explains the consequences of these actions in terms of penalties and their possible impact on the financial marketplace.

Comprehensive in scope, the book contains contributions from noted experts on the topic. They provide evidence for the presence of fraud in specific markets, including crypto-currencies, LIBOR and foreign exchange, and cite the lessons to be learned about the detection and enforcement of market manipulation and financial fraud.

Corruption and Fraud in Financial Markets provides a deeper understanding of all these issues to help prevent you and your company from falling victim to unethical practices.