Ali / Gregoriou Insider Trading

Global Developments and Analysis
Erscheinungsjahr 2008
ISBN: 978-1-4200-7403-1
Verlag: Taylor & Francis
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 456 Seiten

Essential Reading on an Expanding Phenomenon
The recent growth in mergers and acquisitions worldwide has been accompanied by a resurgence in insider trading on a scale not witnessed since the 1980s takeovers boom. Given the greater emphasis on insider trading in the global securities markets, this text combines the latest law and finance research on this ever-intriguing area with timely, expert perspectives to comprehensively cover the established US, European, and Asia-Pacific securities markets, as well as the key emerging markets of Brazil and the greater China region.
Addresses These Fundamental Questions:

- What are the relative costs and benefits of insider trading?

- What is the rationale for criminalizing insider trading?

- Should insider trading that causes security prices to rise be subjected to harsher criminal and civil sanctions than trading that decreases securities costs?

Examines Newsworthy and Recent Case Histories

This text brings together econometric analysis of insider trading with qualitative papers that focus on insider trading regulation. This combination of legal and economic perspectives makes Insider Trading: Regulation and Analysis a useful reference not only for financial academics, but also securities attorneys and managers and those involved with corporate governance.

Recently, the SEC Chairman called insider trading a major risk for US financial markets – a public acknowledgement that the prosecution of insider trading is a priority for the US Securities and Exchange Commission. This speaks to the need for this publication as a guide to the wide-reaching and highly relevant area of insider trading.

Zielgruppe

Risk and compliance managers in listed companies, banks and insurance companies; portfolio managers and professional investors; risk consultants and investment specialists; academics in finance.

Autoren/Hrsg.

Ali, Paul U.

Gregoriou, Greg N.

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere

Inhaltsverzeichnis

Introduction, P.U. Ali and G.N. Gregoriou
PART ONE – THE TAXONOMY OF INSIDER TRADING
Market Inefficiencies and Inequities of Insider Trading – An Economic Analysis, C. Read
Securities Fraud and its Enforcement: The Case of Martha Stewart, G.S. Moohr
An Economic and Ethical Look at Insider Trading, R. W. McGee
Martha Stewart: Insider Trader? J.M. Heminway
Insider Trading Regulation in Transition Economies, R.W. McGee
Credit Derivatives and Inside Information, P.U. Ali
PART TWO – REGULATING INSIDER TRADING
A. Illegal Insider Trading
Inside Information and the European Market Abuse Directive (2003/6), B. Clarke
Insider Trading in Australia, A.-A. Dervenis
The Evolution of Insider Trading Regulations in Japan, S. Osaki
Insider Trading in China, Z. Liu and M. Wang
Hedge Fund Fraud, G. N. Gregoriou and W. Kelting
Extraterritorial Reach of the Insider Trading Regimes in Australia and the United States, Y.B. Chaung
An Investigation of the Whistle-Blower-Insider Trading Connection: Evaluation and Recommendations, E.J. Lusk and M. Halperin
B. Legal Insider Trading
A Middle Ground Position in the Insider Trading Debate: Deregulate the Sell Side, T.A. Lambert
Positive and Negative Information – Insider Trading Rethought, K. R. Grechenig
PART THREE – ECONOMIC CONSEQUENCES OF INSIDER TRADING
The Economic and Financial Features of Insider Trading, F.-É. Racicot and R. Théoret
Insider Trading, New Releases and Ownership Concentration, J. Fidrmuc, M. Goergen, and L. Renneboog
The Incentives to Acquire Information, P. Grégoire
Insider Trading in Emerging Stock Markets: The Case of Brazil, O. R. de Medeiros
Legal Insider Trading and Stock Market Reaction: Evidence from the Netherlands, N. Aktas, E. de Bodt, I. Riachi and J. de Smedt