作者：deHaan, Ed; Kedia, Simi; Koh, Kevin; Rajgopal, Shivaram
作者单位：Stanford University; Nanyang Technological University; Rutgers University System; Rutgers University New Brunswick; Columbia University
摘要：We investigate the consequences of the revolving door for trial lawyers at the SEC's enforcement division. If future job opportunities motivate SEC lawyers to develop and/or showcase their enforcement expertise, then the revolving door phenomenon will promote more aggressive regulatory activity (the human capital hypothesis). In contrast, SEC lawyers can relax enforcement efforts in order to develop networking skills and/or curry favor with prospective employers at private law firms (the rent ...
