Financing Public & Private Firms: Fraud, Ethics, & Regulation

Date(s) of Conference:

April 26-27, 2012


Toronto, Canada


While there has been ample work on law and finance over the past decade, there has been comparatively little work on the intersection of ethics and fraud and the role of regulation in mitigating fraud and encouraging ethical behaviour. We believe this gap needs to be filled in both academics and practice. Future investors will increasingly demand improved reporting of corporate governance standards and transparency. Regulators keep striving to improve fairness and information flows in marketplaces to keep up with investor demand. Yet there remain significant gaps in reporting standards and governance across exchanges. This international conference will provide a timely debate on these important issues.

Call for Papers:

Some research questions that contributors to the conference might address are:

  • Is fraud more common on different exchanges? If so, what types: earnings management, insider trading, market manipulation (wash trades, spoofing, marking the close, etc.), dissemination of false and misleading information, other?
  • What are the causes of international differences in expected or detected fraud?
  • What are the consequences of fraud and ethical standards, and do they differ across countries or exchanges?
  • Can regulation be designed to improve ethical standards and corporate governance?
  • How is fraud risk and ethics priced in markets?
  • How does fraud risk affect corporate valuation?
  • Are there differences in different types of fraud by exchange, such as insider trading, financial restatements, and trade-based market manipulation?
  • Is fraud more common by listed companies or investors in shares of listed companies? What affects the differences?
  • Is fraud more common among public or private firms? What affects the differences?
  • What determines fraudulent conduct among fund managers and financial institutions? What forms of regulation and technology are most effective at mitigating and detecting such fraudulent activity?
  • To what extent has the failure of regulation and reporting standards exacerbated the incidence of fraud and the recent financial crisis?
  • What encourages the adoption of ethical standards and corporate social responsibility in public firms versus private firms?
  • Related research questions on both publicly traded and privately held institutions are welcome.

Papers are to be submitted to: Douglas J. Cumming, with the subject heading: “CFA-FAJ-Schulich Conference on Fraud, Ethics and Regulation.”

Deadline for submission to the conference is January 15, 2012. Authors will be notified about acceptance to conference by February 15, 2012. Acceptance to the conference does not guarantee acceptance into the Financial Analysts Journal.

In your submissions, please indicate whether you want your paper to be considered for the Financial Analysts Journal.

Contact Information:


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