Trading on inside information when there may be tippees

doi:10.1007/s11156-007-0072-5

科研成果详情

发表状态	已发表Published
题名	Trading on inside information when there may be tippees
作者	Lee, Chi Wen Jevons 1,2; Lu, Zemin3
发表日期	2008
发表期刊	Review of Quantitative Finance and Accounting
ISSN/eISSN	0924-865X
卷号	31 期号:3 页码:241-260
摘要	This paper compares four scenarios of a model in which, for the possible presence of tippees, firm insiders may not be the only persons having inside information. The four scenarios are that of free insider trading, that with a ban on insider trading, that of observable insider trading, and that with full disclosure of information. Each of these scenarios is shown to be strictly more efficient than the one before so long as there is a positive probability that a tippee exists. The paper sheds some light on why and how insider trading should be regulated, and also on the role of the disclosure system in the overall scheme of securities regulation. © 2007 Springer Science+Business Media, LLC.
关键词	Disclosure Efficiency Insider trading Regulation
DOI	10.1007/s11156-007-0072-5
URL	查看来源
语种	英语English
Scopus入藏号	2-s2.0-52249115871
引用统计
文献类型	期刊论文
条目标识符	https://repository.uic.edu.cn/handle/39GCC9TT/8454
专题	个人在本单位外知识产出
通讯作者	Lu, Zemin
作者单位	1.A. B. Freeman School of Business, Tulane University, New Orleans, LA 70118, United States 2.Graduate Institute of Business, Zhejiang University, Hangzhou, Zhejiang Province, China 3.School of Business, Faculty of Business and Economics, The University of Hong Kong, Hong Kong, China
推荐引用方式 GB/T 7714	Lee, Chi Wen Jevons,Lu, Zemin. Trading on inside information when there may be tippees[J]. Review of Quantitative Finance and Accounting, 2008, 31(3): 241-260.
APA	Lee, Chi Wen Jevons, & Lu, Zemin. (2008). Trading on inside information when there may be tippees. Review of Quantitative Finance and Accounting, 31(3), 241-260.
MLA	Lee, Chi Wen Jevons,et al."Trading on inside information when there may be tippees". Review of Quantitative Finance and Accounting 31.3(2008): 241-260.