On Tuesday 22 March 2016 Jan Lepoutre
, Professor at ESSEC Business School
(France), will present a research seminar at the Ghent Campus
Prof. Lepoutre will present the paper:
“STITCHED ON THE EDGE: RULE EVASION, REGULATORY EMBEDDEDNESS, AND THE EVOLUTION OF MARKETS"
Abstract of the seminar:
While the role of laws and regulations in structuring markets is well established, how regulators and regulated interact to determine the meaning of compliance with them impacts rule evasion and its effect on the evolution of markets is less understood. This paper addresses this issue by studying such interactions in the development of the asset-backed commercial paper (ABCP) market in France, Germany and the Netherlands from 1999 to 2009. Although in all three countries, the ABCP market involved financial innovations designed to evade regulations, we can relate differences identified in their respective development to whether and how regulators were embedded in the interpretive communities that elaborated what would constitute compliance with regulation. Focusing on the regulatory networks that embed institutions in markets, we propose a synthesis of relational and institutional accounts of the embeddedness of markets: the structuring impact of laws and regulations works through the relational context of their enforcement, jointly determining the regulatory embeddedness of markets.
Jan Lepoutre is Associate Professor at ESSEC Business School, France. Drawing on multiple disciplines, he has a passion for learning and teaching about entrepreneurial strategies that individuals and organizations develop to address complex and systemic, often societal issues. Using both qualitative and quantitative methods, this has taken him to a diverse range of settings, including horticulture, cleantech, banking and heavy manufacturing in both the developing as well as the developed world. He is the author of a number of articles published in the Academy of Management Journal, Journal of Business Ethics, Small Business Economics and Journal of Cleaner Production, as well as book chapters, case studies and reports.
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