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David's Dilemma: A Case Study of Securities Regulation in a Small Open Market
2000
Social Science Research Network
This article tells the story of an Israeli regulatory program aimed at luring back home Israeli companies listed only on U.S. stock markets, to facilitate dual listing of their stocks on the Tel Aviv Stock Exchange. Beyond documenting a piece of Israeli political economy, this article provides several lessons of general relevance to small or emerging markets as well as to large ones. In this story, the regulator of the small market finds itself a regulatory price-taker. In a mirror image, the
doi:10.2139/ssrn.240888
fatcat:7xfm425465bitoitz76lpqv334