Knowledge flows and insider trading

Knowledge flows and insider trading Much insider trading literature focuses on the redistribution of monetary rents. This focus has led to ambiguous and conflicting results, unable to identify who the clear winners and losers of insider trading legislation are. Lacking any clearly defined beneficiary, an analysis of the origins and continued support of such legislation is lacking. This paper rectifies this omission by reassessing the involved agents not in light of their relationship to a company, but from all roles of the knowledge transmission process: creator, distributor and user. Information distributors—large news companies and investment houses—are argued to be sufficiently well organized to lobby for maintained and strengthened legislation to protect rents that would otherwise be greatly diminished. The Review of Austrian Economics Springer Journals

Knowledge flows and insider trading

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Springer US
Copyright © 2013 by Springer Science+Business Media New York
Economics / Management Science; Public Finance & Economics; Political Science, general; Methodology and the History of Economic Thought
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  • Managerial value diversion and shareholder wealth
    Bebchuk, L; Jolls, C
  • Do insider trading laws work?
    Bris, A

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