The Decision to Not Delist Nikko Cordial Shares
8 Pages Posted: 30 Sep 2007
The Financial Services Agency levied a huge fine on Nikko Cordial Group after uncovering accounting irregularities at the firm, one of Japan's leading securities houses. In response, the Tokyo Stock Exchange considered whether to delist the firm, ultimately deciding not to. This paper takes the position that the TSE basically made the right decision and offers recommendations regarding future self-regulation by exchanges.
Keywords: Tokyo Stock Exchange, delisting, self-regulation
JEL Classification: K22
Suggested Citation: Suggested Citation