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Full-Text Articles in Securities Law
Insider Trading: Hayek, Virtual Markets And The Dog That Did Not Bark, Henry G. Manne
Insider Trading: Hayek, Virtual Markets And The Dog That Did Not Bark, Henry G. Manne
ExpressO
This Essay briefly reexamines the great debates on the role of insider trading in the corporate system from the perspectives of efficiency of capital markets, harm to individual investors, and executive compensation. The focus is on the mystery of why trading by all kinds of insiders as well as knowledgeable outsiders was studiously ignored by the business and investment communities before the advent of insider trading regulation. It is hardly conceivable that officers, directors, and controlling shareholders would have remained totally silent in the face of widespread insider trading if they had seen the practice as being harmful to the …
Insider Trading: Hayek, Virtual Markets, And The Dog That Did Not Bark, Henry G. Manne
Insider Trading: Hayek, Virtual Markets, And The Dog That Did Not Bark, Henry G. Manne
ExpressO
This Essay briefly reexamines the great debates on the role of insider trading in the corporate system from the perspectives of efficiency of capital markets, harm to individual investors, and executive compensation. The focus is on the mystery of why trading by all kinds of insiders as well as knowledgeable outsiders was studiously ignored by the business and investment communities before the advent of insider trading regulation. It is hardly conceivable that officers, directors, and controlling shareholders would have remained totally silent in the face of widespread insider trading if they had seen the practice as being harmful to the …