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| Author: | Mallin, C. Ow-Yong, K. |
| Title: | The UK alternative investment market - ethical dimensions |
| Journal: | Journal of Business Ethics
2010 : VOL. 95, SUPPL. 2, p. 223-239 |
| Index terms: | investment markets corporate governance institutional investors stock exchanges ethics United Kingdom |
| Language: | eng |
| Abstract: | The Alternative Investment Market (AIM) in the U.K. was launched in 1995 being since a great success with more than 1200 listed companies. This article explores the development of AIM reaching its 15th year. The potential pitfalls of the light touch regulation is discussed, identifying potential corporate governance and ethical issues possibly arising due to the light touch regulation. The central role of the nominated advisor (NOMAD) is examined. It is dealt with the findings of in-depth interviews with 25 AIM participants incl. AIM company directors, institutional investors, nominated advisors and brokers. The influence of the NOMAD on these participants and potential governance and ethical implications is underlined. Some concerns by AIM participants about the market are also discussed. Some recent scandals on AIM are explored in order to determine the reasons for them occuring. |
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