Download or read book Evidence on Quasi Private Information and Insider Trading written by Martha L. Carter and published by . This book was released on 2014 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the informational content of corporate insider buying activity and argue that the market impact of insiders' transactions varies based on the length of interval between the insider buying activity and the disclosure of information to the public. Based on a sample obtained from the Washington Service Insider Trade database, we find that (i) the informational content of insider transactions leaks out prior to the SEC announcement, (ii) information leakage is positively associated with the length of the interval between the insider buying activity and the SEC announcement, (iii) information leakage is only marginally different between CEOs and other officers, and (iv) those insiders with the longest delay in reporting have the greatest total impact on stock prices. The findings suggest that insiders are able to manipulate the impact of their buying activity on stock prices with their disclosure timing.
Download or read book The Effects of Quasi private Information on Market Efficiency written by Martha Louise Carter and published by . This book was released on 1999 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insider Trading Enforcement and the Private Information Environment written by Andrew T. Pierce and published by . This book was released on 2020 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: I exploit a shock to U.S. insider trading law to investigate whether a reduction in the enforceability of tipper-tippee insider trading restrictions leads to changes in information parity among investors and the efficiency of price discovery. The December 2014 Federal Second Circuit Court of Appeals ruling in US v. Newman constrained enforcement by restricting the types of exchanges between managers and investors that trigger tipper-tippee insider trading liability. Following Newman, I find that Second Circuit hedge funds experienced a significant increase in their stock picking ability of Second Circuit stocks in terms of preempting future earnings announcement returns and future earnings surprises; this is consistent with Newman having a differential effect on market participants as the ruling represented binding precedent only within the jurisdictional boundaries of the Second Circuit. I also find evidence that the suspect trading activity of Second Circuit hedge funds led to improved market efficiency in the Second Circuit, as evidenced by tests that approximate the speed of price discovery between quarterly earnings announcement cycles of portfolio firms. This study extends prior work by documenting the relation between important aspects of capital market activity and tipper-tippee insider trading law.
Download or read book Insider Trading and the Stock Market written by Henry G. Manne and published by . This book was released on 1966 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Europe s Hidden Capital Markets written by Jean-Pierre Casey and published by CEPS. This book was released on 2005 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.
Download or read book United States Attorneys Manual written by United States. Department of Justice and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Michigan Court Rules written by Kelly Stephen Searl and published by . This book was released on 1922 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Geographical Disadvantage written by Anthony Venables and published by World Bank Publications. This book was released on 1999 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "What effect does distance have on costs for economies at different locations? Exports and imports of final and intermediate goods bear transport costs that increase with distance. Production and trade depend on factor endowments and factor intensities as well as on distance and the transport intensities of different goods"--Cover.
Download or read book Securities Market Issues for the 21st Century written by Merritt B. Fox and published by . This book was released on 2018 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Empirical Market Microstructure written by Joel Hasbrouck and published by Oxford University Press. This book was released on 2007-01-04 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: The interactions that occur in securities markets are among the fastest, most information intensive, and most highly strategic of all economic phenomena. This book is about the institutions that have evolved to handle our trading needs, the economic forces that guide our strategies, and statistical methods of using and interpreting the vast amount of information that these markets produce. The book includes numerous exercises.
Download or read book Investment Intelligence from Insider Trading written by H. Nejat Seyhun and published by MIT Press. This book was released on 2000-02-28 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to profit from information about insider trading. The term insider trading refers to the stock transactions of the officers, directors, and large shareholders of a firm. Many investors believe that corporate insiders, informed about their firms' prospects, buy and sell their own firm's stock at favorable times, reaping significant profits. Given the extra costs and risks of an active trading strategy, the key question for stock market investors is whether the publicly available insider-trading information can help them to outperform a simple passive index fund. Basing his insights on an exhaustive data set that captures information on all reported insider trading in all publicly held firms over the past twenty-one years—over one million transactions!—H. Nejat Seyhun shows how investors can use insider information to their advantage. He documents the magnitude and duration of the stock price movements following insider trading, determinants of insiders' profits, and the risks associated with imitating insider trading. He looks at the likely performance of individual firms and of the overall stock market, and compares the value of what one can learn from insider trading with commonly used measures of value such as price-earnings ratio, book-to-market ratio, and dividend yield.
Download or read book Insider Trading written by John P. Anderson and published by Cambridge University Press. This book was released on 2018-06-07 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains why the current US insider trading regime is inefficient and unjust, and offers a clear path to reform.
Download or read book Fiduciary Law written by Tamar Frankel and published by . This book was released on 2011 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Fiduciary Law, Tamar Frankel examines the structure, principles, themes, and objectives of fiduciary law. Fiduciaries, which include corporate managers, money managers, lawyers, and physicians among others, are entrusted with money or power. Frankel explains how fiduciary law is designed to offer protection from abuse of this method of safekeeping. She deals with fiduciaries in general, and identifies situations in which fiduciary law falls short of offering protection. Frankel analyzes fiduciary debates, and argues that greater preventive measures are required. She offers guidelines for determining the boundaries and substance of fiduciary law, and discusses how failure to enforce fiduciary law can contribute to failing financial and economic systems. Frankel offers ideas and explanations for the courts, regulators, and legislatures, as well as the fiduciaries and entrustors. She argues for strong legal protection against abuse of entrustment as a means of encouraging fiduciary services in society. Fiduciary Law can help lawyers and policy makers designing the future law and the systems that it protects.
Download or read book The Securities Litigation Review written by William Savitt and published by . This book was released on 2017 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Thammasat Review written by and published by . This book was released on 2005 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Securities Law written by Stephen M. Bainbridge and published by . This book was released on 2007 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting the history, richness, and texture of important areas of law, this text illustrates the development of securities/insider trading law, with selected cases and in-depth explanations. Insider trading is a central topic in most corporations, business association, and securities regulation classes. For many corporate law students, insider trading is their principal introduction to federal securities law, SEC Rule 10b-5, and economic analysis. As a recommended text, this book addresses the important subject in a readable and authoritative manner. Accessible but sophisticated, it seeks to develop the reader's understanding of the theory and practice of insider trading law.
