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13 Jonathan Macey & Hideki Kanda, The Stock Exchange as a Firm: the Emergence of Close Substitutes for the New York and Tokyo Stock Exchanges, 75 Cornell Law Review 1007(1990), 1010. 14 pp.1011-1025. 15 pp.1016-1020. 16 Bernard Black, The Legal and Institutional Preconditions for Strong Securities Market, 48 UCLA Law Review 781(2001). 17 Bernard Black, The Role of Self-Regulation of in Supporting Korea s Securities Markets, available at http://papers.ssrn.com/abstract=293565. 9
18 Adam C. Pritchard, Self-Regulation and Securities Markets, Regulation spring 2003, p.36. 19 10
20 2001 715 21 4971 22 Paul G. Mahoney, The Exchange as Regulator, 83 Virginia Law Review 1453(1997), 1458. 23 Jonathan Macey & Hideki Kanda, The Stock Exchange as a Firm: the Emergence of Close Substitutes for the New York and Tokyo Stock Exchanges, 75 Cornell Law Review 1007(1990) 24 25 Paul G. Mahoney, The Exchange as Regulator, 83 Virginia Law Review 1453(1997), 1497. 26 pp.1492-1497. 27 pp.1492-1497. 11
28 p.1486j. Harold Mulherin, Jeffry M. Netter & James A. Overdahl, Prices Are Property: The Organization of Financial Exchanges from a Transaction Cost Perspective, 34 Journal of Law & Economic 591, 630-34 (1991). 29 Paul G. Mahoney, The Exchange as Regulator, 83 Virginia Law Review 1453(1997).Marcel Kahan, Some Problems with Stock Exchange-based Securities Regulation, 83 Virginia Law Review 1509(1997). 30 431453 3 31 2001 172 12
32 Adam C. Pritchard, Self-Regulation and Securities Markets, Regulation spring 2003, p.38. 33 Paul G. Mahoney, The Exchange as Regulator, 83 Virginia Law Review 1453(1997), pp.1499-1500. 13
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Bernard Black, 2001, The Legal and Institutional Preconditions for Strong Securities Market, 48 UCLA Law Review 781. Bernard Black, 2003, The Role of Self-Regulation of in Supporting Korea s Securities Markets, http://papers.ssrn.com/abstract=293565. Jonathan Macey & Hideki Kanda, 1990, The Stock Exchange as a Firm: the Emergence of Close Substitutes for the New York and Tokyo Stock Exchanges, 75 Cornell Law Review 1007. Paul G. Mahoney, 1997, The Exchange as Regulator, 83 Virginia Law Review 1453. Marcel Kahan, 1997, Some Problems with Stock Exchange-based Securities Regulation, 83 Virginia Law Review 1509. Adam C. Pritchard, 2003, Self-Regulation and Securities Markets, Regulation spring 2003, p.36. 54