Aggregate Insider Trading and Market Returns: The Role of Transparency

2017 ◽  
Author(s):  
Francois Brochet
Keyword(s):  
Insider Trading ◽  
Market Returns

The SEC’s Impact on the Federalization of Corporate Governance—A Traditional Perspective

2018 ◽  
Author(s):  
Marc I. Steinberg
Keyword(s):  
Corporate Governance ◽  
Mergers And Acquisitions ◽  
Insider Trading ◽  
Securities And Exchange Commission ◽  
Outside Directors ◽  
Tender Offers ◽  
Going Private ◽  
Rule Making

This chapter examines, from a traditional perspective, several areas where the Securities and Exchange Commission (SEC) has impacted corporate governance in a meaningful way. By way of example, these subjects include insider trading, qualitative materiality, the role of gatekeepers (such as outside directors, attorneys, and accountants), the Commission’s use of disclosure to influence conduct, the implementation by subject companies of undertakings pursuant to SEC enforcement proceedings, and mergers and acquisitions (including tender offers and going-private transactions). This chapter’s focus is on the manner in which the SEC for well over 50 years has impacted corporate governance by means of exercising its rule-making and oversight authority.

scholarly journals NONPARAMETRIC ESTIMATES OF OPTION PRICES AND RELATED QUANTITIES

2019 ◽  
Vol 22 (07) ◽  
pp. 1950040
Author(s):  
GIANLUCA CASSESE
Keyword(s):  
Market Imperfections ◽  
Relative Distance ◽  
Time Behavior ◽  
Option Prices ◽  
Market Returns ◽  
Actual Density ◽  
Nonparametric Estimates ◽  
Absence Of Arbitrage ◽  
Call Function

We propose a new nonparametric technique to estimate the call function based on the superhedging principle. This approach requires minimal assumptions on absence of arbitrage and other market imperfections. The estimates so obtained are then combined with SNP estimates of the actual density of market returns. This permits to investigate the time behavior of the relative distance between the two densities obtained. Our empirical findings suggest that the more the two densities differ, the shorter is time to maturity, suggesting a major role of uncertainty over shorter than longer horizons.

Googling Investor Sentiment around the World

2019 ◽  
Vol 55 (2) ◽  
pp. 549-580 ◽  
Author(s):  
Zhenyu Gao ◽  
Haohan Ren ◽  
Bohui Zhang
Keyword(s):  
Stock Prices ◽  
Stock Markets ◽  
Investor Sentiment ◽  
Search Behavior ◽  
Market Returns ◽  
Country Level ◽  
The World ◽  
Google Search

We study how investor sentiment affects stock prices around the world. Relying on households’ Google search behavior, we construct a weekly measure of sentiment for 38 countries during 2004–2014. We validate the sentiment index in tests using sports outcomes and show that the sentiment measure is a contrarian predictor of country-level market returns. Furthermore, we document an important role of global sentiment in stock markets.

The Consequences of Insider Trading and the Role of Academic Research

1991 ◽  
Vol 10 (4) ◽  
pp. 83-98 ◽  
Author(s):  
Jang Y. Cho ◽  
Michael K. Shaub ◽  
Keyword(s):  
Insider Trading ◽  
Academic Research
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