This paper offers new evidence on informed trading around merger and acquisition announcements from the UK equity and options market. The analysis suggests that in about 25%-33% of events there is abnormal option trading volume during the month that precedes the announcement. Such evidence is...

ch. 1. Why the stock market and its efficiency are so important -- ch. 2. How shares are traded and valued -- ch. 3. The efficient capital markets hypothesis -- ch. 4. Market irrationality : bubbles, manias, panics and crashes -- ch. 5. Out-performing the market : the case of mergers and...

Securities regulation must balance the dual objectives of mitigating market abuse and permitting issuers to manage their capital flexibly and efficiently. This paper examines this issue in the specific context of the regulation of share buybacks within the insider dealing framework in a...

Discusses the gaps in the regulation of insider dealing left by the criminal law and self-regulatory organisations and mechanisms. Examines the criminal or civil status of the market abuse regime under the Financial Services and Markets Act 2000 Part VIII, focusing on its classification for the...

This work presents a comparative study of the provisions relating to insider dealing under the EC Insider Dealing Directive. The volume begins with a discussion of the rationale for regulating financial services in general and controlling insider dealing and money-laundering in particular. It...