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Corporate Governance And Insider Trading
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Book Synopsis Law and Economics of Corporate Governance and Insider Trading by : Georgios I. Zekos
Download or read book Law and Economics of Corporate Governance and Insider Trading written by Georgios I. Zekos and published by Nova Science Publishers. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulation of insider trading prohibits insiders from using inside information in securities transactions, and the central goal of the regulator is to preclude non-public information from circulating in the stock markets. The goal of legislation against insider trading is the same as that of legislation against market manipulation, making certain the integrity of EU financial markets and so boosting investor confidence in those markets. Market manipulation and insider trading are interrelated and based on circulation of information, and so cyberspace & e-logistics of information could be the key to neutralising people from taking advantage of their privilege to govern information within a company. Insider trading moves prices because outsiders decode information from the trade itself. Insider trading increases capital costs for the reason that insider trading raises the cost to market-makers in a companys securities relative to other companies, decreasing the anticipated return to uninformed shareholders. Corporate insiders are clearly informed about their own firms. The insiders outperformance derives from either their analytical skill or the handling of superior information about their companies when trading. Insiders benefit from unexpected losses on top of gains and so have a perverse incentive to trigger the company to under-perform if insider trading is permitted. Securities are vital, not only as investment vehicles, but also as devices for corporate control. A peaceful European Revolution should bring forward European nations and the USE/European Federation, which can deal with insider trading, criminal law, and other political/economical components in a harmonious way while avoiding any conflict among the various jurisdictions taking place in the present EU.
Book Synopsis Corporate Governance and Insider Trading by : Konstantin A. Rozanov
Download or read book Corporate Governance and Insider Trading written by Konstantin A. Rozanov and published by . This book was released on 2008 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: I investigate the relation between corporate governance and insider trading by corporate executives. Despite the general view that trade on non-public information adversely affects capital market participants, the impact of corporate governance on such trading remains relatively unexplored in prior research. I propose an empirical measure that relies on a predicted pattern in stock returns to identify transactions that are more likely to be based on private information and provide evidence to validate the construct. Using this measure, I find that good corporate governance, identified through board and ownership characteristics that have been linked to more effective monitoring of management in prior research, is negatively related to opportunistic insider trading. In supplementary analysis, I provide evidence on the robustness of this relation to an alternative hypothesis and to potential endogeneity. Overall, I conclude that good corporate governance helps to attenuate opportunistic insider trading.
Book Synopsis Research Handbook on Insider Trading by : Stephen M. Bainbridge
Download or read book Research Handbook on Insider Trading written by Stephen M. Bainbridge and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics. The Handbook begins with a section devoted to legal issues surrounding the USÕs ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union. This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading.
Download or read book Insider Trading written by Trish Harrison and published by . This book was released on 1996 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Directors' Accountability & Insider Trading by : Mushera Ambaras Khan
Download or read book Directors' Accountability & Insider Trading written by Mushera Ambaras Khan and published by . This book was released on 2001 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Insider Trading and Corporate Governance by :
Download or read book Insider Trading and Corporate Governance written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does Corporate Governance Matter to Insider Trading? by : Bill Kiwia
Download or read book Does Corporate Governance Matter to Insider Trading? written by Bill Kiwia and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Ferrara on Insider Trading and the Wall by : Ralph C. Ferrara
Download or read book Ferrara on Insider Trading and the Wall written by Ralph C. Ferrara and published by Law Journal Press. This book was released on 2023-11-28 with total page 960 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors analyze the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Sarbanes-Oxley Act and SEC regulations regarding selective disclosure and insider trading.
Download or read book Insider Trading written by Paul U. Ali and published by CRC Press. This book was released on 2008-08-22 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insider trading has long been considered an endemic feature of the world's financial markets. It is unsurprising that the recent growth in mergers and acquisitions worldwide has been accompanied by a growth in insider trading, on a scale not witnessed since the 1980's takeovers boom. Insider Trading: Global Developments and Analysis brings together the latest law and finance research on insider trading. It provides expert coverage on the established US, European, and Asia-Pacific securities markets, as well as the key emerging markets of Brazil and the greater China region. Providing high interest and up-to-date content, the book features several recent cases, including that of Martha Stewart.
Book Synopsis Corporate Governance and Insider Trading by : Sirorat Charasrungrojkul
Download or read book Corporate Governance and Insider Trading written by Sirorat Charasrungrojkul and published by . This book was released on 2009 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research investigates the relationship between abnormal return from insider trading and corporate governance. It also tests whether insiders earn higher abnormal returns from trading stocks prior to earning announcements than the other periods. The samples of the study are all insider trades filed with Security Exchange Commission during the year 2006-2007. This research has found asymmetric relationship between corporate governance and abnormal return from insider trades. For insider sales, there is negative relationship between corporate governance and abnormal return. For insider purchases, there is positive relationship between corporate governance and abnormal return. Next, this study has found that insider trades prior to earning announcements yield significantly higher abnormal return than trades occurring during other periods. Thus, blackout period regulation which prohibits any insider trades during the period prior to firms' earning announcements should be valuable to Thai capital market.
Book Synopsis Corporate Governance and the Information Content of Insider Trades by : Alan D. Jagolinzer
Download or read book Corporate Governance and the Information Content of Insider Trades written by Alan D. Jagolinzer and published by . This book was released on 2012 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most corporate governance research focuses on the behavior of chief executive officers, board members,institutional shareholders, and other similar parties. Little research focuses on the impact of executives whose primary responsibility is to enforce and shape corporate governance inside the firm. This study examines the role of the general counsel in mitigating informed trading by corporate insiders. We find that insider trading profits and the predictive ability of insider trades for future operating performance are generally higher when insiders trade within firm-imposed restricted trade windows. However, when general counsel approval is required to execute a trade,insiders' trading profits and the predictive ability of insider trades for future operating performance are substantively lower. Thus, when given the authority, it appears the general counsel can effectively limit the extent to which corporate insiders use their private information to extract rents from shareholders.
Book Synopsis Insider Trading and Corporate Governance Structure by : Mingyi Hung
Download or read book Insider Trading and Corporate Governance Structure written by Mingyi Hung and published by . This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: By examining the flow of the value-relevant information in annual earnings into stock price, we provide evidence that is consistent with the proposition that insiders of Southeast Asian companies controlled by the richest families are particularly aggressive in trading on their proprietary knowledge concerning this information. We find further support for this insider trading proposition based on tests that assume the presence of a strong incentive for insider trading (i) when there is a large change in earnings and (ii) before the first legal case in a country is brought against insider trading. We do not find similar evidence in the relatively well regulated market of Hong Kong or for family-controlled companies overall. Our test results are robust to controls for company-specific size, growth, and risk, as well as to alternative measures of the flow of information into stock price. These findings expand our understanding of how corporate governance structure affects the flow of information into stock price. In addition, these findings are consistent with the notion that insider trading leads to the incorporation of private information into stock price and improves the accuracy of stock price, which suggests that a company's stock price is more informative for companies in which insiders have relatively more opportunities and incentives to trade on their private information.
Book Synopsis Corporate Governance and Finance Law by : R. Girasa
Download or read book Corporate Governance and Finance Law written by R. Girasa and published by Springer. This book was released on 2013-08-20 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance and Finance Law is designed to educate students, researchers, and practitioners on the legal aspects of corporate financial markets within the United States, the Eurozone, and China.
Book Synopsis Insider Trading and the Stock Market by : Henry G. Manne
Download or read book Insider Trading and the Stock Market written by Henry G. Manne and published by . This book was released on 1966 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Law and Finance of Corporate Insider Trading: Theory and Evidence by : Hamid Arshadi
Download or read book The Law and Finance of Corporate Insider Trading: Theory and Evidence written by Hamid Arshadi and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thorough analysis of insider trading requires the integration of law and finance, and this book presents a theoretical and empirical examination of insider trading by incorporating a synthesis of securities law with that of financial theory. The book begins with a conceptual framework that explores the theoretical roles of markets, firms and publicly held corporations, including a discussion of corporate governance to determine both who may have access to nonpublic information, and their legal rights and responsibilities. The book then examines different aspects of the securities laws, including the Securities Act of 1933, the Securities Exchange Act of 1934, and a critique of the SEC disclosure rules and their ramifications for market efficiency. This is followed by a detailed chronology of insider trading regulations enacted in the U.S. since 1934 and an overview of the existing empirical literature on insider trading. Empirical evidence is presented on insider trading activities and the merit of anti-insider trading laws is evaluated on theoretical arguments and recent empirical developments. The authors conclude by arguing that insider trading laws and enforcement activities have failed and propose the decriminalization of insider trading.
Book Synopsis Corporate Governance Matters by : David Larcker
Download or read book Corporate Governance Matters written by David Larcker and published by FT Press. This book was released on 2020-10-07 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Definitive Guide to High-Performance Corporate Governance Fully updated for the latest research, trends, and regulations, Corporate Governance Matters, Third Edition, offers comprehensive and objective information for everyone seeking to improve corporate governance—from directors to institutional investors to policymakers and researchers. To help you design highly effective governance, David Larcker and Brian Tayan thoroughly examine current options, reviewing what is and isn't known about their impact on organizational performance. Throughout, they take a strictly empirical and non-ideological approach that reflects rigorous statistical and research analysis and real-life examples. They address issues ranging from board structure, processes, operations, and functional responsibilities to institutional investors, outside stakeholders, and alternative forms of governance. New discussions of: Environmental, Social, and Governance (ESG) activity and ratings Stakeholder interests CEO activism CEO misbehavior Cybersecurity risks Extensively revised coverage of: Executive compensation Leadership and succession planning Director recruitment, evaluation, turnover, and more The authors' balanced approach provides useful tools for making better, more informed decisions on governance.
Book Synopsis Handbook on Emerging Issues in Corporate Governance by : Alireza Tourani-Rad
Download or read book Handbook on Emerging Issues in Corporate Governance written by Alireza Tourani-Rad and published by World Scientific. This book was released on 2011 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book highlights emerging topics in key areas of corporate governance with special emphasis on traditionally unexplored issues. It also aims to stimulate thinking and debate on vital aspects of practice and approaches to corporate governance. The topics covered in this book deal with timely subjects, written by eminent academics and renowned professionals with outstanding expertise in their respective fields, who bring to fore the latest theories and provide an up-to-date overview of the extant literature on each topic. More importantly, they draw readers attention to implications for future research and developments. The book not only contributes to the academic literature but also improves the decision making of regulators and investors.
