Investor protection varies a great deal across countries. A recent finding in finance research has been that: Investor protection is highest in French civil taw countries and lowest in English common taw countries. The quality of legal rules in both French civil taw and English common law countries is about the same, the main difference being in the enforcement of the rules The quality of the enforcement of leeal rubes in both french clivllaw and English common law countries is about the same, the main difference being in the quality of the rules themselves investor protection is lowest in French chill law countries and hiphest in English common law countries. None of these is correct