Cross-boundary information sharing in regulatory contexts: The case of financial markets
Sora Park,
J. Ramon Gil-Garcia,
Theresa A. Pardo,
Megan Sutherland and
Andrew Roepe
Public Money & Management, 2019, vol. 39, issue 5, 346-354
Abstract:
Most studies about cross-boundary information sharing (CBIS) focus on private or public sector organizations only. There is limited research within regulated environments, which often requires information to be shared among multiple public, private and nonprofit organizations. This paper explores CBIS in different regulatory contexts, with a focus on financial markets in the USA, and finds some unique characteristics in terms of information asymmetries, incentive and governance structures, and structural complexity.While the importance and success factors of information sharing has been widely discussed between businesses within the industry, the knowledge gap between the regulator and the regulated has remained unexplored. The purpose of this paper is to help practitioners understand what prevents effective information sharing between the regulated and regulator, and among the regulators, given the unique socio-technological environment they are in. We developed an understanding of regulatory challenges of effectively monitoring market activities and mitigating systemic risk in the US financial market in relation to the cross-boundary information sharing challenges in various regulatory contexts
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:taf:pubmmg:v:39:y:2019:i:5:p:346-354
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DOI: 10.1080/09540962.2019.1611237
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