Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/87690
Authors: 
Aitken, Michael
Cumming, Douglas
Zhan, Feng
Year of Publication: 
2013
Series/Report no.: 
CFS Working Paper 2013/15
Abstract: 
We examine the impact of stock exchange trading rules and surveillance on the frequency and severity of suspected insider trading cases in 22 stock exchanges around the world over the period January 2003 through June 2011. Using new indices for market manipulation, insider trading, and broker-agency conflict based on the specific provisions of the trading rules of each stock exchange, along with surveillance to detect non-compliance with such rules, we show that more detailed exchange trading rules and surveillance over time and across markets significantly reduce the number of cases, but increase the profits per case.
Subjects: 
Insider trading
Surveillance
Exchange Trading Rules
Law and Finance
JEL: 
G12
G14
G18
K22
Document Type: 
Working Paper

Files in This Item:
File
Size
687.24 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.