How Insiders Traded Before Rules

Braggion, Fabio; Moore, Lyndon

doi:10.2139/ssrn.1987603

Abstract

Download This Paper | Share | Email |Add to Briefcase | Purchase Bound Hard Copy

How Insiders Traded Before Rules

Fabio Braggion

Tilburg University - Center and Faculty of Economics and Business Administration; Tilburg University - European Banking Center

University of Melbourne

January 13, 2012

CentER Discussion Paper Series No. 2012-007

Abstract:
U.K. company insiders, such as directors, were legally allowed to trade in the shares of their own companies up until the Companies Act of 1980. We investigate the trading behaviour of directors over the period 1893 to 1907 in the U.K. Although insider trading was profitable, we find relatively few instances of directors who exploited their informational advantage.

Number of Pages in PDF File: 25

Keywords: Corporate Governance, Insider Trading, London Stock Exchange

JEL Classification: N23, G14, G35

working papers series

Download This Paper

Date posted: January 19, 2012

Suggested Citation

Braggion, Fabio and Moore, Lyndon, How Insiders Traded Before Rules (January 13, 2012). CentER Discussion Paper Series No. 2012-007. Available at SSRN: http://ssrn.com/abstract=1987603 or http://dx.doi.org/10.2139/ssrn.1987603

Contact Information

Fabio Braggion (Contact Author) Tilburg University - Center and Faculty of Economics and Business Administration ( email ) P.O. Box 90153 Tilburg, 5000 LE Netherlands
Tilburg University - European Banking Center ( email ) PO Box 90153 Tilburg, 5000 LE Netherlands
Lyndon Moore University of Melbourne ( email ) Melbourne, Victoria 3010 Australia

Abstract

How Insiders Traded Before Rules

Fabio Braggion

Lyndon Moore

Date posted: January 19, 2012

Suggested Citation

Contact Information

Fabio Braggion (Contact Author)

Lyndon Moore