Unlike outside investors, controlling groups have the option to trade on inside information and can exercise it at the expense of outside investors. This paper computes informed trading probabilities (ITPs) for the universe of liquid stocks from seven Latin American countries, trading both at...

This paper develops a theoretical model based on stylized facts regarding regulation and performance of the oil and gas sectors in Argentina after the fall of Convertibility. Regarding performance, facts include an important drop in domestic production and investment, as well as a reversal in...