The real effect of the initial enforcement of insider trading laws

The real effect of the initial enforcement of insider trading laws

Based on a difference-in-differences approach, we find strong evidence that the initial enforcement of insider trading laws improves capital allocation efficiency. The effect is concentrated in developed markets and manifests shortly after the enforcement year. Further analysis shows that the improv...

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Bibliographic Details
Main Authors: CHEN, Zhihong, HUANG, Yan, KUSNADI, Yuanto, JOHN WEI, K. C.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2017
Subjects:
Enforcement
Insider trading laws
Investment
Managerial learning
Market frictions
Real effect
Accounting
Portfolio and Security Analysis
Online Access:https://ink.library.smu.edu.sg/soa_research/1140
https://ink.library.smu.edu.sg/context/soa_research/article/2139/viewcontent/Real_effect_of_the_initial_enforcement_of_insider_trading_law_av.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soa_research/1140
https://ink.library.smu.edu.sg/context/soa_research/article/2139/viewcontent/Real_effect_of_the_initial_enforcement_of_insider_trading_law_av.pdf

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