Legal risk and insider trading

Legal risk and insider trading

Do illegal insiders internalize legal risk? We address this question with hand-collected data from 530 SEC (the U.S. Securities and Exchange Commission) investigations. Using two plausibly exogenous shocks to expected penalties, we show that insiders trade less aggressively and earlier and concentra...

Full description

Saved in:
Bibliographic Details
Main Authors: KACPERCZYK, Marcin, PAGNOTTA, Emiliano Sebastian
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2023
Subjects:
Enforcement
information
securities
market
prices
Business Organizations Law
Finance
Finance and Financial Management
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/7420
https://ink.library.smu.edu.sg/context/lkcsb_research/article/8419/viewcontent/LegalRiskInsiderTrading_pvoa_cc_by.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/lkcsb_research/7420
https://ink.library.smu.edu.sg/context/lkcsb_research/article/8419/viewcontent/LegalRiskInsiderTrading_pvoa_cc_by.pdf

Similar Items