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Full-Text Articles in Law
The Regulation Of Insider Trading As An Agency Problem, Alexandre Padilla
The Regulation Of Insider Trading As An Agency Problem, Alexandre Padilla
ExpressO
This paper attempts to shed a new light on the insider trading issue by studying the unintended effects of insider trading laws. It shows that government regulation of insider trading can actually make the problems it intends to resolve worse. More particularly, this paper shows that insider trading laws instead of mitigating the agency problems that have been associated with insider trading actually can aggravate them by hindering the effectiveness of governance mechanisms existing within and outside the corporation.
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 …