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DO INSIDER TRADING LAWS MATTER? SOME PRELIMINARY COMPARATIVE EVIDENCE
dc.contributor.authorBeny, Laura Nyantungen_US
dc.date.accessioned2006-08-01T15:35:36Z
dc.date.available2006-08-01T15:35:36Z
dc.date.issued2005-01-01en_US
dc.identifier.otherRePEc:wdi:papers:2005-741en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/40127en_US
dc.description.abstractDespite the longstanding insider trading debate, there is little empirical research on insider trading laws, especially in a comparative context. The article attempts to fill that gap. I find that countries with more prohibitive insider trading laws have more diffuse equity ownership, more accurate stock prices, and more liquid stock markets. These findings are generally robust to controlling for measures of disclosure and enforceability and suggest that formal insider trading laws (especially their deterrent components) matter to stock market development. The article suggests further avenues of empirical research on the specific mechanisms through which insider trading laws might matter and the political economy of their adoption.en_US
dc.format.extent103112 bytes
dc.format.extent3151 bytes
dc.format.extent184371 bytes
dc.format.mimetypetext/plain
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.relation.ispartofseries741en_US
dc.subjectInsider Trading Law, Market Efficiency, Ownership Structure, Law and Finance, Comparative Capital Marketsen_US
dc.subject.otherK22, G14, G15, G18 and G32.en_US
dc.titleDO INSIDER TRADING LAWS MATTER? SOME PRELIMINARY COMPARATIVE EVIDENCEen_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbtoplevelBusinessen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/40127/3/wp741.pdfen_US
dc.owningcollnameWilliam Davidson Institute (WDI) - Working Papers


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