Showing 1 - 10 of 57,657
Using a corporate lobbying event that led to the unexpected reversal of a tough insider trading blackout regulation in Hong Kong, we examine whether tightening the restrictions of insider trading in family firms-dominated financial markets affects shareholder value. We find that firms more...
Persistent link: https://www.econbiz.de/10012953802
The paper explores the consequences of SEC detection of illegal insider trading on subsequent insider trading activities. We hypothesize that individuals with private information update their subjective probabilities of getting caught and are less likely to exploit material, non-public...
Persistent link: https://www.econbiz.de/10010483308
This paper is the introductory chapter to Insider Trading (Oxford University Press 3d ed. 2010). This treatise analyzes the application of various laws to stock market insider trading and tipping. Among the federal laws are Exchange Act section 10(b), SEC Rule 10b-5, mail/wire fraud, SEC Rule...
Persistent link: https://www.econbiz.de/10013069166
This paper investigates whether political connections affect individuals' propensity to engage in illegal activities in financial markets. We use the 2007 French presidential election as marker of change in the value of political connections, in a difference-in-differences research design. We...
Persistent link: https://www.econbiz.de/10012954909
By exploiting the exogenous reductions of analyst coverage due to closures and mergers of brokerage firms, I examine the causal impact of information asymmetry on insider trading. I find that corporate insiders' abnormal returns increase sharply after coverage reductions. This effect is stronger...
Persistent link: https://www.econbiz.de/10012905213
This paper investigates whether political connections affect individuals' propensity to engage in illegal activities in financial markets. We use the 2007 French presidential election as marker of change in the value of political connections, in a difference-in-differences research design. We...
Persistent link: https://www.econbiz.de/10012935450
This paper contributes to the debate on the consequences of increased disclosure regulation by investigating the effects of expedited reporting requirements of Form 4 filings, mandated by the Sarbanes-Oxley Act (SOX), on the market response to earnings announcements. We first confirm that SOX...
Persistent link: https://www.econbiz.de/10012972742
Using a novel dataset of insider trading and short selling from the Hong Kong Stock Exchange, we investigate potential information leakage from insiders to short sellers, particularly in family-controlled firms. We document a significant increase in short selling volume before information on...
Persistent link: https://www.econbiz.de/10012855480
This paper investigates whether political connections affect individuals' propensity to engage in illegal activities in financial markets. We use the French 2007 presidential election as a plausibly exogenous change in the value of political connections in a difference-in-differences...
Persistent link: https://www.econbiz.de/10012984131
This paper investigates whether directors' political connections affect their behavior in financial markets. We conjecture that directors feel protected by their political connections, which translates in lower perceived enforcement probability. We use the French $2007$ presidential election as...
Persistent link: https://www.econbiz.de/10012990020