TY - JOUR
T1 - Market manipulation in East-Asian markets
T2 - A regulatory overview
AU - Shah, Syed Qasim
AU - Ghafoor, Abdul
AU - Qureshi, Fiza
AU - Ismail, Izlin
N1 - Publisher Copyright:
© 2021 Ascociacion Internacional de Economia Aplicada. All rights reserved.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2021
Y1 - 2021
N2 - This paper systematically reviews and examines the regulatory perspective of market manipulation in East Asian emerging markets. Keywords such as market manipulation, corporate fraud, market misconduct, financial regulations, corporate governance practices, institutional quality, and enforcement system for a search in the prominent academic literature databases are used. The studies related to the market misconduct and regulatory overview tied with these keywords are identified and selected for the systematic review. The review of extant literature suggests that the regulators are playing an important role in regulating the market to prevent market manipulation and market misconduct. The review also suggests that emerging economies are facing the issue of low institutional quality, absence of law enforcement agencies in the enforcement process, and definitional vagueness in relation to market manipulation. However, the findings suggest that enforcement mechanisms against market manipulation may discourage market abuses in both emerging and developed markets. The findings of this research offer some challenges and future directions in case of future market manipulation that potentially affect the market integrity of the firms. Notably, the technological changes in the financial markets often lead to regulatory challenges.
AB - This paper systematically reviews and examines the regulatory perspective of market manipulation in East Asian emerging markets. Keywords such as market manipulation, corporate fraud, market misconduct, financial regulations, corporate governance practices, institutional quality, and enforcement system for a search in the prominent academic literature databases are used. The studies related to the market misconduct and regulatory overview tied with these keywords are identified and selected for the systematic review. The review of extant literature suggests that the regulators are playing an important role in regulating the market to prevent market manipulation and market misconduct. The review also suggests that emerging economies are facing the issue of low institutional quality, absence of law enforcement agencies in the enforcement process, and definitional vagueness in relation to market manipulation. However, the findings suggest that enforcement mechanisms against market manipulation may discourage market abuses in both emerging and developed markets. The findings of this research offer some challenges and future directions in case of future market manipulation that potentially affect the market integrity of the firms. Notably, the technological changes in the financial markets often lead to regulatory challenges.
KW - Enforcement System
KW - Financial Regulations
KW - Market Manipulation
UR - http://www.scopus.com/inward/record.url?scp=85091451465&partnerID=8YFLogxK
U2 - 10.25115/eea.v39i1.3376
DO - 10.25115/eea.v39i1.3376
M3 - Article
AN - SCOPUS:85091451465
SN - 1133-3197
VL - 39
SP - 146
EP - 159
JO - Studies of Applied Economics
JF - Studies of Applied Economics
IS - 2
ER -