Insider Trading: A Review of Theory and Empirical Work
Journal of Accounting and Finance Research, Vol. 11, No. 1, Spring 2003
18 Pages Posted: 12 Nov 2007
This paper analyzes the academic and regulatory studies on insider trading available in the finance literature. First, a review of the laws regulating insider trading is provided. The paper then takes a look at the parties involved in insider trading, and analyzes the theories of insider trading and empirical evidences. Finally, the paper concludes by giving some indication as to the direction of future research on insider trading.
Keywords: Insider Trading, Monopolistic Information, Material Nonpublic Information, Market Efficiency, Quasi-insider, Intermediary Insider
JEL Classification: G14, G18
Suggested Citation: Suggested Citation