Research Review: Punishment and self control

Ron Bird | Investment Management Research Program | 26 August 2019 | 1.00 CE

I regard the following two recent papers as being very interesting and quite inciteful.

Financial regulators around the world have been reluctant to pursue through the court system, those who breach financial regulations. As a consequence of the Global Financial Crisis, only one relatively junior banking executive experienced a prison term. This reflects a change in strategy of the US Just...