Insider trading regulation produces excess speculation and stimulates deceptive stock exchange trading – the very things that it is supposed to eliminate. In Sweden, this was part of a deliberate political agenda to make financial markets livelier and more exciting, almost as if they were...

In this paper, we argue that a duality of language exists in financial economics in that branch of the agency theory literature that is called signaling, signaling theory, and the signaling principle of finance. We show that the signaling contention violates rudimentary rules of logic. Yet, the...

This paper identifies three 'folk' arguments for an intrinsic value implicit in the finance literature. The 'hindsight' argument states that if financial assets eventually have a value in the form of realised cash flows, then this reveals an intrinsic value that was always there. The...