# Policy and Regulation
**Source**: https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation
**Parent**: https://bm.hkust.edu.hk/bizinsight/global-trade-supply-chains-and-business-sustainability
NAN, Lin
[TANG, Chao](https://bm.hkust.edu.hk/faculty/tang-chao)
ZHANG, Gaoqing
[Whistleblowing Bounties and Informational Effects](https://bm.hkust.edu.hk/bizinsight/2025/09/whistleblowing-bounties-and-informational-effects)
[Accounting](https://bm.hkust.edu.hk/bizinsight/tag/accounting)
[Financial Fraud](https://bm.hkust.edu.hk/bizinsight/tag/financial-fraud)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
How large should the reward be for corporate whistleblowers? This question was explored in novel research by HKUST’s Chao Tang and colleagues. Their study shows that while larger bounties do not increase the value of whistleblowing information, they do make the absence of whistleblowing a more informative signal for regulators. Some firms exaggerate their
...
[Read More](https://bm.hkust.edu.hk/bizinsight/2025/09/whistleblowing-bounties-and-informational-effects)
[ [BizBites](https://bm.hkust.edu.hk/bizinsight/bizbites "BizBites") ]
[Watch Video](https://video.ust.hk/watch?video=67F92F5506A8B386&embed=Y)
[Read Full Paper](https://www.sciencedirect.com/science/article/pii/S016541012300040X)
JIANG, Xu
XIN, Baohua
[XIONG, Yan](https://bm.hkust.edu.hk/faculty/xiong-yan)
[Mandatory Certification for Enhancing Investment Efficiency](https://bm.hkust.edu.hk/bizinsight/2024/11/mandatory-certification-enhancing-investment-efficiency)
[Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/disclosure)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
[ESG](https://bm.hkust.edu.hk/bizinsight/tag/esg)
Firms’ financial reports are an important source of information for market participants, and relevant disclosure requirements have been imposed by regulators. However, “there is no discussion about the verification requirements of such disclosures,” explain HKUST’s Yan Xiong and colleagues. They offer an alternative explanation for the importance of
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[Read More](https://bm.hkust.edu.hk/bizinsight/2024/11/mandatory-certification-enhancing-investment-efficiency)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-679X.12460)
NAN, Lin
[TANG, Chao](https://bm.hkust.edu.hk/faculty/tang-chao)
ZHANG, Gaoqing
[Optimal Bounties for Calling Out Fraud](https://bm.hkust.edu.hk/bizinsight/2024/09/optimal-bounties-calling-out-fraud)
[Accounting](https://bm.hkust.edu.hk/bizinsight/tag/accounting)
[Financial Fraud](https://bm.hkust.edu.hk/bizinsight/tag/financial-fraud)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
How large should the reward be for corporate whistleblowers? This question was explored in novel research by HKUST’s Chao Tang and colleagues. Their study shows that while larger bounties do not increase the value of whistleblowing information, they do make the absence of whistleblowing a more informative signal for regulators. Some firms exaggerate their
...
[Read More](https://bm.hkust.edu.hk/bizinsight/2024/09/optimal-bounties-calling-out-fraud)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://www.sciencedirect.com/science/article/pii/S016541012300040X)
[XIONG, Yan](https://bm.hkust.edu.hk/faculty/xiong-yan)
YANG, Liyan
[To conceal or disclose? The impact of secret and overt information acquisition on financial markets](https://bm.hkust.edu.hk/bizinsight/2024/08/conceal-or-disclose-impact-secret-and-overt-information-acquisition-financial)
[Privacy Issues](https://bm.hkust.edu.hk/bizinsight/tag/privacy-issues)
[Mechanism Design](https://bm.hkust.edu.hk/bizinsight/tag/mechanism-design)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
Investors seek information to guide their investment decisions and maximize their profits. These information-acquisition activities are often kept secret. However, some investors voluntarily disclose such activities, and some regulators have mandates (such as the Regulation Fair Disclosure in the U.S. and China’s Shenzhen Stock Exchange requiring the
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[Read More](https://bm.hkust.edu.hk/bizinsight/2024/08/conceal-or-disclose-impact-secret-and-overt-information-acquisition-financial)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[Read Full Paper](https://academic.oup.com/rfs/article/36/9/3643/7067750)
LUO, Xiaowei Rose
[WANG, Danqing](https://bm.hkust.edu.hk/faculty/wang-danqing)
[Being Responsible](https://bm.hkust.edu.hk/bizinsight/2022/09/being-responsible)
[Corporate Social Responsibility](https://bm.hkust.edu.hk/bizinsight/tag/corporate-social-responsibility)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
[Policy Implication](https://bm.hkust.edu.hk/bizinsight/tag/policy-implication)
[Firm Behavior](https://bm.hkust.edu.hk/bizinsight/tag/firm-behavior)
In recent decades, corporate social responsibility, or CSR, has become an increasingly important aspect of firms’ operations. For companies in emerging and transitional markets, where market-based institutions are relatively weak, governments have played a key role in driving CSR. A case in point is China, where the government has pushed CSR as a way of
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[Read More](https://bm.hkust.edu.hk/bizinsight/2022/09/being-responsible)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[ [Global Trade, Supply Chains and Business Sustainability](https://bm.hkust.edu.hk/bizinsight/global-trade-supply-chains-and-business-sustainability "Global Trade, Supply Chains and Business Sustainability") ]
[Read Full Paper](https://link.springer.com/article/10.1007/s10551-019-04367-6)
LUO, Xiaowei Rose
[WANG, Danqing](https://bm.hkust.edu.hk/faculty/wang-danqing)
ZHANG, Jianjun
[CSR Reportings under Institutional Conflict](https://bm.hkust.edu.hk/bizinsight/2021/07/csr-reportings-under-institutional-conflict)
[Corporate Social Responsibility](https://bm.hkust.edu.hk/bizinsight/tag/corporate-social-responsibility)
[Organizational Behavior](https://bm.hkust.edu.hk/bizinsight/tag/organizational-behavior)
[China](https://bm.hkust.edu.hk/bizinsight/tag/china)
[Information Disclosure](https://bm.hkust.edu.hk/bizinsight/tag/information-disclosure)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
The authors in this study develop a theoretical framework in which the disclosure of Corporate Social Responsibility (CSR) activities is viewed as an organizational response to institutional complexity which exists between the demands of the central government and provincial governments in China. The study aims at revealing how firms with institutional
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[Read More](https://bm.hkust.edu.hk/bizinsight/2021/07/csr-reportings-under-institutional-conflict)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[ [Global Trade, Supply Chains and Business Sustainability](https://bm.hkust.edu.hk/bizinsight/global-trade-supply-chains-and-business-sustainability "Global Trade, Supply Chains and Business Sustainability") ]
[Read Full Paper](https://mgmt.hkust.edu.hk/sites/management/files/2022-09/2017%20AMJ%20Luo,%20Wang%20and%20Zhang.pdf)
GE, Weili
MATSUMOTO, Dawn
[WANG, Emily Jing](https://bm.hkust.edu.hk/faculty/wang-emily-jing)
ZHANG, Jenny Li
[The Cost of Listing Overseas](https://bm.hkust.edu.hk/bizinsight/2021/05/cost-listing-overseas)
[Financial Fraud](https://bm.hkust.edu.hk/bizinsight/tag/financial-fraud)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
[Stock Market](https://bm.hkust.edu.hk/bizinsight/tag/stock-market)
[Organizational Behavior](https://bm.hkust.edu.hk/bizinsight/tag/organizational-behavior)
Listing on a U.S. stock exchange can be good for business, but U.S.-listed foreign firms pay a big price for deliberately misleading investors, according to a 2020 study by Ge, Matsumoto, Wang, and Zhang. . The authors compared the responses of U.S. stock markets to accounting irregularities—intentionally misstated financial information—disclosed by U.S
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[Read More](https://bm.hkust.edu.hk/bizinsight/2021/05/cost-listing-overseas)
[ [BizStudies](https://bm.hkust.edu.hk/bizinsight/bizstudies "BizStudies") ]
[HUANG, Allen](https://bm.hkust.edu.hk/faculty/huang-allen)
[Are Judges Like Umpires? Political Affiliation and Business Lawsuits](https://bm.hkust.edu.hk/bizinsight/2021/05/are-judges-umpires-political-affiliation-and-business-lawsuits)
[Securities Litigation](https://bm.hkust.edu.hk/bizinsight/tag/securities-litigation)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
[Layperson Talk](https://bm.hkust.edu.hk/bizinsight/tag/layperson-talk)
[Judge Ideology](https://bm.hkust.edu.hk/bizinsight/tag/judge-ideology)
Political science studies show that judge ideology influences judicial votes in federal courts, with judges appointed by Democratic presidents being more liberal than those appointed by Republican presidents. Although legal doctrine plays an important role in deciding case outcomes, judges are more likely to obey legal doctrine when such doctrine supports
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[Read More](https://bm.hkust.edu.hk/bizinsight/2021/05/are-judges-umpires-political-affiliation-and-business-lawsuits)
[ [BizTalks](https://bm.hkust.edu.hk/bizinsight/biztalks "BizTalks") ]
[Watch Video](https://video.ust.hk/Watch.aspx?Video=9C39F7FF10D198C1&embed=Y)
[Read Full Paper](https://onlinelibrary.wiley.com/doi/full/10.1111/1475-679X.12260)
OKAT, Deniz
[Compromising Welfare](https://bm.hkust.edu.hk/bizinsight/2019/04/compromising-welfare)
[Lunch Presentation](https://bm.hkust.edu.hk/bizinsight/tag/lunch-presentation)
[Politics Influence](https://bm.hkust.edu.hk/bizinsight/tag/politics-influence)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
The US Constitution includes many checks and balances that necessitate the ruling party to compromise with the opposition. The study by Prof Deniz OKAT looks into the nominations to the judiciary and found that confirmation in the Senate is more likely and faster when the President compromises on the strength of the candidate. This suggests that the system
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[Read More](https://bm.hkust.edu.hk/bizinsight/2019/04/compromising-welfare)
[ [BizTalks](https://bm.hkust.edu.hk/bizinsight/biztalks "BizTalks") ]
[Watch Video](https://video.ust.hk/Watch.aspx?Video=DCFB447712ACB06F&embed=Y)
[CHAN, K C](https://bm.hkust.edu.hk/faculty/chan-k-c)
[Regulating FinTech](https://bm.hkust.edu.hk/bizinsight/2019/01/regulating-fintech)
[Fintech](https://bm.hkust.edu.hk/bizinsight/tag/fintech)
[Policy and Regulation](https://bm.hkust.edu.hk/bizinsight/tag/policy-and-regulation)
Senior Advisor to the Dean and Adjunct Professor of Finance, HKUST Business School
Former Secretary for Financial Services and the Treasury, the Government of HKSAR (2007-2017)
Rigorous application of regulatory principles without stifling true innovations should form the solid bedrock of a sound FinTech policy.
Regulation is often seen to play a
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[Read More](https://bm.hkust.edu.hk/bizinsight/2019/01/regulating-fintech)
[ [Fintech](https://bm.hkust.edu.hk/bizinsight/bizthemes/fintech "Fintech") ]