TY  - UNPD
A1  - Breuer, Matthias
A1  - Breuer, Patricia
T1  - Uneven regulation and economic reallocation: evidence from transparency regulation
T2  - LawFin working paper ; No. 43
N2  - We investigate the impact of uneven transparency regulation across countries and industries on the location of economic activity. Using two distinct sources of regulatory variation—the varying extent of financial-reporting requirements and the staggered introduction of electronic business registers in Europe—, we consistently document that direct exposure to transparency regulation is negatively associated with the focal industry’s economic activity in terms of inputs (e.g., employment) and outputs (e.g., production). By contrast, we find that indirect exposure to supplier and customer industries’ transparency regulation is positively associated with the focal industry’s economic activity. Our evidence suggests uneven transparency regulation can reallocate economic activity from regulated toward unregulated countries and industries, distorting the location of economic activity.
T3  - LawFin Working Paper - 43 
KW  - Regulation
KW  - Reallocation
KW  - Transparency
KW  - Disclosure
KW  - Supply Chain
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/68204
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-682041
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3683033#
N1  - Patricia Breuer gratefully acknowledges research funding from the German Research Foundation (DFG) under the TRR 266 program (‚Accounting for Transparency‘) and financial support from the Julius Paul Stiegler Memorial Foundation, Landesgraduiertenförderung Baden-Württemberg, and the German Academic Exchange Service (DAAD). The paper has benefited significantly from a fellow visit of Matthias Breuer at the Center for Advanced Studies Foundations of Law and Finance funded by the German Research Foundation (Deutsche Forschungsgemeinschaft, DFG) - project FOR 2774.
IS  - This draft: November 2022
PB  - Center for Advanced Studies on the Foundations of Law and Finance, House of Finance, Goethe University
CY  - Frankfurt am Main
ER  -