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The Law and Finance of Corporate Insider Trading

The Law And Finance Of Corporate Insider Trading: Theory And Evidence


The Law and Finance of Corporate Insider Trading: Theory and Evidence presents a theoretical and empirical examination of insider trading by incorporating a synthesis of securities law with that of financial theory. A thorough analysis of insider trading requires the integration of law and finance.The book begins with a conceptual framework that explores the theoretical roles of markets, firms, and publicly held corporations, including a discussion of corporate governance to determine both who may have access to nonpublic information, and their legal rights and responsibilities. The book then examines different aspects of the securities laws, including the Securities Act of 1933, the Securities Exchange Act of 1934, and a critique of the SEC disclosure rules and their ramifications for market efficiency. This is followed by a detailed chronology of insider trading regulations enacted in the U.S. since 1934 and an overview of the existing empirical literature on insider trading. Empirical evidence is presented on insider trading activities and the merit of anti-insider trading laws is evaluated based on both the theoretical arguments and recent empirical developments. The authors conclude by arguing that insider trading laws and enforcement activities have failed and by proposing decriminalization of insider trading.



  • Condition: --
    HPB condition ratings
    • New: Item is brand new, unused and unmarked, in flawless condition.
    • Fine/Like New (F): No defects, little usage. May show remainder marks. Older books may show minor flaws.
    • Very Good (VG): Shows some signs of wear and is no longer fresh. Attractive. Used textbooks do not come with supplemental materials.
    • Good (G): Average used book with all pages present. Possible loose bindings, highlighting, cocked spine or torn dust jackets. Used textbooks do not come with supplemental materials.
    • Fair (FR): Obviously well-worn, but no text pages missing. May be without endpapers or title page. Markings do not interfere with readability. Used textbooks do not come with supplemental materials.
    • Poor (P): All text is legible but may be soiled and have binding defects. Reading copies and binding copies fall into this category. Used textbooks do not come with supplemental materials.
    Conditions Guide
  • Format: Hardcover
  • Sold by: --
  • Language: English
  • Publisher: Kluwer Academic Pub
  • ISBN-13: 9780792393603
  • ISBN: 0792393600
  • Publication Year: 1993
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HPB condition ratings
  • New: Item is brand new, unused and unmarked, in flawless condition.
  • Fine/Like New (F): No defects, little usage. May show remainder marks. Older books may show minor flaws.
  • Very Good (VG): Shows some signs of wear and is no longer fresh. Attractive. Used textbooks do not come with supplemental materials.
  • Good (G): Average used book with all pages present. Possible loose bindings, highlighting, cocked spine or torn dust jackets. Used textbooks do not come with supplemental materials.
  • Fair (FR): Obviously well-worn, but no text pages missing. May be without endpapers or title page. Markings do not interfere with readability. Used textbooks do not come with supplemental materials.
  • Poor (P): All text is legible but may be soiled and have binding defects. Reading copies and binding copies fall into this category. Used textbooks do not come with supplemental materials.
Conditions Guide
HPB condition ratings
  • New: Mint condition or still sealed (SS). Absolutely perfect in every way. New.
  • Fine/Like New (EX): No defects, little sign of use, well cared for. Plays perfectly. Close to new. Not necessarily sealed or unused, but close. Could be an unopened promotional or cut item. Sometimes called: mint-minus.
  • Very Good (VG): Will show some signs that it was played and otherwise handled by a previous owner who took good care of it.
  • Good (G): Attractive and well cared for, but no longer fresh. Minor signs of wear, scuffing or scratching, but will play almost perfectly. For vinyl: barely detectable crackles or pops.
  • Fair (FR): This item is in okay condition. For vinyl: good is not so good and the record may have low level crackles or pops when playing. CD: one or more tracks may skip.
  • Poor (P): Obviously well-worn and handled. Most vinyl collectors will not buy good or below, but some tracks on CD or vinyl will play.
Conditions Guide
HPB condition ratings
  • New: This movie is unopened and brand new.
  • Fine/Like New (EX): Near new. No defects, little sign of use. Plays perfectly. Not necessarily sealed or unused, but close. No skipping; no fuzzy or snowy frames in VHS.
  • Very Good (VG): Attractive and well cared for but no longer fresh. Minor signs of wear, but will play almost perfectly. For VHS: barely detectable distortion or very few fuzzy or snowy frames.
  • Good (G): This item is in okay condition and basically works well. There may be some minor distortion on VHS tape; slight scratching or wear on DVD.
  • Fair (FR): Basically plays, but may be obviously well-worn with some scratching or tape distortion.
  • Poor (P): Disc or tape is intact, but may be scratched or stretched. There may be skips or distortion or product defects.
Conditions Guide
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