The present study is concerned with the analysis of a
piece of economic legislation - the Securities and Futures
Commission Ordinance (SFC) of Hong Kong - within the
theoretical framework of the theories of economic
regulation, testing the legislation's stated objective of
investor protection for the securities industry.
Principally two sets of theories attempt to explain the
impact of economic regulations. They are the ·Public
Interest Theory" and the "Capture Theory". The former is
largely of a normative nature. It stipulates that in case
of market inefficiency economic regulations are enacted for
protecting the interest of the general public. [Continues.]
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Publication date
1995
Notes
A Masters Thesis. Submitted in partial fulfilment of the requirements for the award of Master of Philosophy of Loughborough University.