This thesis consists of three essays examining the behavior of informed traders infinancial markets and how they affect asset pricing. It examines informed traders’ rolein shaping securities prices in three ways. It examines whether on a macro and microbasis insider traders move prices to a...

The Markets in Financial Instruments Directive (MiFID), was come into force in November 2007 and broadens the scope of both services and financial instruments covered previously by the Investment Services Directive (ISD). For example, the following securities were not covered by the ISD but are...