STATE SUBSTANTIVE SECURITIES REGULATION: AN EMPIRICAL INVESTIGATION OF EFFICIENCY AT THREE LEVELS OF STRINGENCY (INVESTMENT, RETURNS, RISK).

Persistent Link:
http://hdl.handle.net/10150/187973
Title:
STATE SUBSTANTIVE SECURITIES REGULATION: AN EMPIRICAL INVESTIGATION OF EFFICIENCY AT THREE LEVELS OF STRINGENCY (INVESTMENT, RETURNS, RISK).
Author:
BRANDI, JAY THOMAS.
Issue Date:
1985
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
Theoreticians and practitioners consider regulation of the capital marketplace to be an important area of concern due to the potential effects of such regulation on capital resource allocation, investment decision-making, and market efficiency. It is hypothesized that if the level of issue quality required by a state prior to public sale supplies investor benefits, such benefits should take the form of excess returns and/or less variation in return in relation to issues complying with lower standards of quality. The study utilizes an Analysis of Variance and, an analysis of average and cumulative average residuals. Both investigations provide findings that merit regulation is beneficial to new investors increased market efficiency.
Type:
text; Dissertation-Reproduction (electronic)
Keywords:
Securities -- United States.; Stock exchanges -- United States.; Trade regulation -- United States.; Disclosure of information (Securities law)
Degree Name:
Ph.D.
Degree Level:
doctoral
Degree Program:
Business Administration; Graduate College
Degree Grantor:
University of Arizona

Full metadata record

DC FieldValue Language
dc.language.isoenen_US
dc.titleSTATE SUBSTANTIVE SECURITIES REGULATION: AN EMPIRICAL INVESTIGATION OF EFFICIENCY AT THREE LEVELS OF STRINGENCY (INVESTMENT, RETURNS, RISK).en_US
dc.creatorBRANDI, JAY THOMAS.en_US
dc.contributor.authorBRANDI, JAY THOMAS.en_US
dc.date.issued1985en_US
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractTheoreticians and practitioners consider regulation of the capital marketplace to be an important area of concern due to the potential effects of such regulation on capital resource allocation, investment decision-making, and market efficiency. It is hypothesized that if the level of issue quality required by a state prior to public sale supplies investor benefits, such benefits should take the form of excess returns and/or less variation in return in relation to issues complying with lower standards of quality. The study utilizes an Analysis of Variance and, an analysis of average and cumulative average residuals. Both investigations provide findings that merit regulation is beneficial to new investors increased market efficiency.en_US
dc.typetexten_US
dc.typeDissertation-Reproduction (electronic)en_US
dc.subjectSecurities -- United States.en_US
dc.subjectStock exchanges -- United States.en_US
dc.subjectTrade regulation -- United States.en_US
dc.subjectDisclosure of information (Securities law)en_US
thesis.degree.namePh.D.en_US
thesis.degree.leveldoctoralen_US
thesis.degree.disciplineBusiness Administrationen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.identifier.proquest8517491en_US
dc.identifier.oclc696342212en_US
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