Government agencies routinely allow pre-release access to information to accredited news agencies under embargo … agreements. Using high frequency data, we find evidence consistent with informed trading during embargoes of the Federal Open … subsequent policy surprises and contain information that predicts the market reaction to the policy announcements. The estimated …

market and to be a significant piece of information for all world oil markets in which the WTI is a price benchmark. We … uncover suspicious trading patterns in the WTI futures markets in days when the inventory level is released that are higher … consistent with informed trading. We also provide evidence of an asymmetric response of the oil price to the news, and highlight …

market and to be a significant piece of information for all world oil markets in which the WTI is a price benchmark. We … uncover suspicious trading patterns in the WTI futures markets in days when the inventory level is released that are higher … finding is consistent with informed trading. We also provide evidence of an asymmetric response of the oil price to the news …

This paper examines how the quality of firm information disclosure affects shareholders' use of dividends to mitigate … asymmetrically informed, the manager can manipulate the firm's accounting information to increase perceived firm value. Dividends can … behavior more than dividend payers following the Sarbanes-Oxley Act, a law that increased financial disclosures …

contracts would reveal proprietary information to rival firms. This paper considers the basis for those concerns in the … firm faces a tension between exploiting its information advantage in the forward market and attempting to influence the … of revealing its private information to its rival and extracting less expected gains from uninformed forward market …

In this paper, we employ a registry of legal insider trading for Dutch listed firms to investigate the information … insider trading is an important channel through which information flows to the market. We analyze also the impact of the … Netherlands. We show that the new regulation reduced the information content of sales by top executives. …

In this paper, we employ a registry of legal insider trading for Dutch listed firms to investigate the information … insider trading is an important channel through which information flows to the market. We analyze also the impact of the … Netherlands. We show that the new regulation reduced the information content of sales by top executives. -- insider trading …

insider trading cases in 22 stock exchanges around the world over the period January 2003 through June 2011. Using new indices … for market manipulation, insider trading, and broker-agency conflict based on the specific provisions of the trading rules …We examine the impact of stock exchange trading rules and surveillance on the frequency and severity of suspected …

We examine insider trading in about 3,700 targets of takeovers announced during 1988-2006 and in a control sample of … insider trading measures, we find no evidence that insiders increase their purchases before takeover announcements; instead … increasing their net purchases. This ‘passive' insider trading holds for each of the five insider groups we examine, for all …