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首页> 外文期刊>Journal of Business Ethics >The UK Alternative Investment Market:Ethical Dimensions
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The UK Alternative Investment Market:Ethical Dimensions

机译:英国另类投资市场:道德层面

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The UK Alternative Investment Market (AIM) was launched in 1995 and has been a great success with over 1200 companies now listed. In this article, we examine the development of AIM as it reaches its 15th year and discuss the potential pitfalls of the light touch regulation that is one of the attractions of AIM and identify potential corporate governance and ethical issues that may arise as a result of light touch regulation. We examine the central role of the nominated advisor (NOMAD) and draw on the findings of in depth interviews with 25 AIM participants including AIM company directors, institutional investors, nominated advisors and brokers. We highlight the influence of the NOMAD on these participants and potential governance and ethical implications. We also discuss some of the concerns that AIM participants have about the market. We examine some of the recent scandals on AIM to determine why these scandals occurred — were they, for example, attributable to corporate governance weaknesses? Finally, we offer some concluding comments to discuss the future of AIM. The findings of the article have important implications for investors and policymakers alike.
机译:英国另类投资市场(AIM)于1995年成立,迄今已有1200多家公司成功上市。在本文中,我们将探讨AIM进入其成立15年以来的发展,并讨论作为AIM吸引力之一的轻触监管的潜在陷阱,并确定潜在的公司治理和可能因轻触而引起的道德问题触摸调节。我们研究了提名顾问(NOMAD)的核心作用,并借鉴了与25名AIM参与者(包括AIM公司董事,机构投资者,提名顾问和经纪人)进行的深度访谈的结果。我们着重强调NOMAD对这些参与者的影响以及潜在的治理和道德影响。我们还将讨论AIM参与者对市场的一些担忧。我们检查了最近在AIM上发生的一些丑闻,以确定为什么发生这些丑闻-例如,它们是否可归因于公司治理薄弱?最后,我们提供一些结论性意见来讨论AIM的未来。本文的研究结果对投资者和决策者都具有重要意义。

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