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Research Handbook on Insider Trading
In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics.
More Information
Contributors
Contents
More Information
In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics.
The Handbook begins with a section devoted to legal issues surrounding the US’s ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union.
This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading.
The Handbook begins with a section devoted to legal issues surrounding the US’s ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union.
This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading.
Contributors
Contributors: K. Alexander, S.M. Bainbridge, L.N. Beny, S.F. Diamond, J. Fisch, J.M. Heminway, M.T. Henderson, N.C. Howson, H. Huang, K. Kendall, S.H. Kim, T.A. Lambert, K. Langenbucher, D.C. Langevoort, H.G. Manne, M. Nelemans, A. Padilla, A.C. Pritchard, J.M. Ramseyer, M.C. Schouten, H.N. Seyhun, A.F. Simpson, J.W. Verret, G. Walker
Contents
Contents:
1. An Overview of Insider Trading Law and Policy: An Introduction to the Research Handbook on Insider Trading
Stephen M. Bainbridge
PART I: US LAW AND POLICY
2. Launching the Insider Trading Revolution: SEC v. Capital Gains Research Bureau
A.C. Pritchard
3. What were they Thinking? Insider Trading and the Scienter Requirement
Donald C. Langevoort
4. Entrepreneurship, Compensation, and the Corporation
Henry G. Manne
5. Regulating Insider Trading in the Post-Fiduciary Duty Era: Equal Access or Property Rights?
Stephen M. Bainbridge
6. The Facebook Effect: Secondary Markets and Insider Trading in Today’s Startup Environment
Stephen F. Diamond
7. Regulation FD: An Alternative Approach to Addressing Information Asymmetry
Jill Fisch
8. Decision Theory and the Case for an Optional Disclosure-based Regime for Regulating Insider Trading
Thomas A. Lambert
PART II: STUDIES OF SPECIFIC DEFENDANTS
9. Applying Insider Trading Law to Congressmen, Government Officials, and the Political Intelligence Industry
J.W. Verret
10. What Governmental Insider Trading Teaches us About Corporate Insider Trading
Sung Hui Kim
11. A Portrait of the Insider Trader as a Woman
Joan MacLeod Heminway
PART III: EMPIRICAL RESEARCH
12. Has Illegal Insider Trading Become More Rampant in the United States? Empirical Evidence from Takeovers
Laura Nyantung Beny and H. Nejat Seyhun
13. The Changing Demand for Insider Trading Regulation
M. Todd Henderson
14. Insider Trading: What is Seen and What is Not Seen
Alexandre Padilla
15. The Political Economy of Insider Trading Laws and Enforcement: Law vs. Politics? International Evidence
Laura Nyantung Beny
PART IV. GLOBAL PERSPECTIVES
Section A. Asia
16. The Regulation of Insider Trading in China: Law and Enforcement
Hui Huang
17. Punishing Possession–China’s All-Embracing Insider Trading Enforcement Regime
Nicholas Calcina Howson
18. Insider Trading Regulation in Japan
J. Mark Ramseyer
Section B. Australasia
19. Insider Trading in Australia
Keith Kendall and Gordon Walker
20. Insider Trading Law in New Zealand
Gordon Walker and Andrew F. Simpson
Section C. Europe
21. UK Insider Dealing and Market Abuse Law: Strengthening Regulatory Law to Combat Market Misconduct
Kern Alexander
22. Insider Trading in European Law
Katja Langenbucher
23. Takeover Bids and Insider Trading
Matthijs Nelemans and Michael Schouten
Index
1. An Overview of Insider Trading Law and Policy: An Introduction to the Research Handbook on Insider Trading
Stephen M. Bainbridge
PART I: US LAW AND POLICY
2. Launching the Insider Trading Revolution: SEC v. Capital Gains Research Bureau
A.C. Pritchard
3. What were they Thinking? Insider Trading and the Scienter Requirement
Donald C. Langevoort
4. Entrepreneurship, Compensation, and the Corporation
Henry G. Manne
5. Regulating Insider Trading in the Post-Fiduciary Duty Era: Equal Access or Property Rights?
Stephen M. Bainbridge
6. The Facebook Effect: Secondary Markets and Insider Trading in Today’s Startup Environment
Stephen F. Diamond
7. Regulation FD: An Alternative Approach to Addressing Information Asymmetry
Jill Fisch
8. Decision Theory and the Case for an Optional Disclosure-based Regime for Regulating Insider Trading
Thomas A. Lambert
PART II: STUDIES OF SPECIFIC DEFENDANTS
9. Applying Insider Trading Law to Congressmen, Government Officials, and the Political Intelligence Industry
J.W. Verret
10. What Governmental Insider Trading Teaches us About Corporate Insider Trading
Sung Hui Kim
11. A Portrait of the Insider Trader as a Woman
Joan MacLeod Heminway
PART III: EMPIRICAL RESEARCH
12. Has Illegal Insider Trading Become More Rampant in the United States? Empirical Evidence from Takeovers
Laura Nyantung Beny and H. Nejat Seyhun
13. The Changing Demand for Insider Trading Regulation
M. Todd Henderson
14. Insider Trading: What is Seen and What is Not Seen
Alexandre Padilla
15. The Political Economy of Insider Trading Laws and Enforcement: Law vs. Politics? International Evidence
Laura Nyantung Beny
PART IV. GLOBAL PERSPECTIVES
Section A. Asia
16. The Regulation of Insider Trading in China: Law and Enforcement
Hui Huang
17. Punishing Possession–China’s All-Embracing Insider Trading Enforcement Regime
Nicholas Calcina Howson
18. Insider Trading Regulation in Japan
J. Mark Ramseyer
Section B. Australasia
19. Insider Trading in Australia
Keith Kendall and Gordon Walker
20. Insider Trading Law in New Zealand
Gordon Walker and Andrew F. Simpson
Section C. Europe
21. UK Insider Dealing and Market Abuse Law: Strengthening Regulatory Law to Combat Market Misconduct
Kern Alexander
22. Insider Trading in European Law
Katja Langenbucher
23. Takeover Bids and Insider Trading
Matthijs Nelemans and Michael Schouten
Index
