Securities fraud
研究监管机构如何通过激励设计和事后惩罚来减少投资银行和证券公司员工的证券欺诈行为，对金融监管者和从业者有参考价值。
Summary Securities fraud It is a matter of incentives from bottom to topRecent frauds in investment banks and securities houses have revealed how vulnerable modern financial institutions are to criminal activity by their employees. In this paper, we examine how regulators may limit the incidence of securities fraud by encouraging firms to provide managers and dealers with appropriate incentives and by imposing ex post penalties once a fraud has been discovered— Norvald Instefjord, Patricia Jackson and William Perraudin