Abstract

http://ssrn.com/abstract=1294457
 
 

References (28)



 
 

Citations (9)



 


 



Market Manipulation: A Comprehensive Study of Stock Pools


Guolin Jiang


Shanghai University of Finance and Economics

Paul G. Mahoney


University of Virginia School of Law

Jianping Mei


New York University (NYU) - Department of Finance

September 2004

NYU Working Paper No. FIN-04-022

Abstract:     
Using a hand collected new data set, this paper examines in detail a classic account of stock market manipulation⬠the â¬Sstock poolsâ¬? of the 1920s, which prompted the current anti-manipulation rules in the United States. We examine abnormal turnover and returns and the relationship between them, as well as the long-term performance of the selected stocks. We conclude that the evidence suggests informed trading rather than manipulation. Our findings have implications for regulatory policy as well as the investigation and prosecution of manipulation cases.

Number of Pages in PDF File: 34

Keywords: Manipulation, Market regulation, Politics of finance

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Date posted: November 3, 2008  

Suggested Citation

Jiang, Guolin and Mahoney, Paul G. and Mei, Jianping, Market Manipulation: A Comprehensive Study of Stock Pools (September 2004). NYU Working Paper No. FIN-04-022. Available at SSRN: http://ssrn.com/abstract=1294457

Contact Information

Guolin Jiang (Contact Author)
Shanghai University of Finance and Economics ( email )
777 Guoding Road
Shanghai, Shanghai 200433
China
Paul G. Mahoney
University of Virginia School of Law ( email )
580 Massie Road
Charlottesville, VA 22903
United States
434-924-7343 (Phone)
434-924-7536 (Fax)

Jianping Mei
New York University (NYU) - Department of Finance ( email )
Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States
212-998-0354 (Phone)
212-995-4221 (Fax)
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