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The Effect of Regulation Changes on Insider Trading
16 references·16 citing·17 second hopsampled
The Effect of Regulation Changes on Insider Trading (1974)The Effect of Regulation Changes on Insid…The Adjustment of Stock Prices to New Information (2003)The Adjustment of Stock Price…The Private and Social Value of Information and the Reward to Inventive Activity (1978)The Private and Social Value …The capital asset pricing model: Some empirical tests (1972)The capital asset pricing mod…Information and Efficiency:Another Viewpoint (1972)Information and Efficiency:An…Capital Market Equilibrium with Restricted Borrowing (1972)Capital Market Equilibrium wi…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)EFFICIENT CAPITAL MARKETS: A …Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios (1969)Risk, The Pricing of Capital …The Random Character of Stock Market Prices (1968)The Random Character of Stock…THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)THE PERFORMANCE OF MUTUAL FUN…An Empirical Evaluation of Accounting Income Numbers (1968)An Empirical Evaluation of Ac…The Behavior of Stock-Market Prices (1965)The Behavior of Stock-Market …SECURITY PRICES, RISK, AND MAXIMAL GAINS FROM DIVERSIFICATION* (1965)SECURITY PRICES, RISK, AND MA…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…A Simplified Model for Portfolio Analysis (1963)A Simplified Model for Portfo…Portfolio Selection: Efficient Diversification of Investments. (1962)Portfolio Selection: Efficien…Portfolio Selection: Efficient Diversification of Investments (1959)Portfolio Selection: Efficien…Mandating Women on Boards: Evidence from the United States (2018)Mandating Women on Boards: Ev…SEC Rule 10b5-1 and Insiders' Strategic Trade (2008)SEC Rule 10b5-1 and Insiders'…Measuring the costs and benefits of regulation: Conceptual issues in securities markets (2007)Measuring the costs and benef…Bank Monitoring and Environmental Risk (2006)Bank Monitoring and Environme…An investigation of insider trading profits in the Spanish stock market (2002)An investigation of insider t…Stock price decreases prior to executive stock option grants (2001)Stock price decreases prior t…Insider Trading as a Signal of Private Information (1993)Insider Trading as a Signal o…INSIDER TRADING: SOME EVIDENCE ON MARKET EFFICIENCY AND DIRECTORS' SHARE DEALINGS IN GREAT BRITAIN (1990)INSIDER TRADING: SOME EVIDENC…The timing of and incentives for annual earnings forecasts near interim earnings announcements (1989)The timing of and incentives …Efficient Market Hypothesis (1989)Efficient Market HypothesisThe Association between Insider Trading and Information Announcements (1984)The Association between Insid…UNDERSTANDING AND CONDUCTING EVENT STUDIES (1983)UNDERSTANDING AND CONDUCTING …Stock Prices and Financial Analysts' Recommendations (1983)Stock Prices and Financial An…Common Stock Returns and Rating Changes: A Methodological Comparison (1982)Common Stock Returns and Rati…Equity Rights Issues and the Efficiency of the UK Stock Market (1979)Equity Rights Issues and the …Regulation in America (1975)Regulation in AmericaDISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Dividend Policy, Growth, and the Valuation of Shares (1961)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Users of the world, unite! The challenges and opportunities of Social Media (2009)Risk, Return, and Equilibrium: Empirical Tests (1973)The Cross-Section of Expected Stock Returns (1992)Multifactor Explanations of Asset Pricing Anomalies (1996)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Common risk factors in the returns on stocks and bonds (1993)Using daily stock returns (1985)Efficient Capital Markets: II (1991)The arbitrage theory of capital asset pricing (1976)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Noise Trader Risk in Financial Markets (1990)
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References

  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*15,723 cited
  • 1965The Behavior of Stock-Market Prices8,707 cited
  • 1968An Empirical Evaluation of Accounting Income Numbers6,384 cited
  • 1959Portfolio Selection: Efficient Diversification of Investments5,535 cited
  • 1968THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–19644,330 cited
  • 1962Portfolio Selection: Efficient Diversification of Investments.3,621 cited
  • 1972Capital Market Equilibrium with Restricted Borrowing3,097 cited
  • 2003The Adjustment of Stock Prices to New Information3,063 cited
  • 1963A Simplified Model for Portfolio Analysis2,740 cited
  • 1972The capital asset pricing model: Some empirical tests2,705 cited
  • 1965SECURITY PRICES, RISK, AND MAXIMAL GAINS FROM DIVERSIFICATION*2,451 cited
  • 1978The Private and Social Value of Information and the Reward to Inventive Activity1,571 cited
  • 1969Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios941 cited
  • 1968The Random Character of Stock Market Prices926 cited

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  • 1972Information and Efficiency:Another Viewpoint864 cited
  • Cited by

    • 1982Common Stock Returns and Rating Changes: A Methodological Comparison216 cited
    • 1983UNDERSTANDING AND CONDUCTING EVENT STUDIES212 cited
    • 1984The Association between Insider Trading and Information Announcements202 cited
    • 2001Stock price decreases prior to executive stock option grants198 cited
    • 2008SEC Rule 10b5-1 and Insiders' Strategic Trade198 cited
    • 1993Insider Trading as a Signal of Private Information198 cited
    • 1983Stock Prices and Financial Analysts' Recommendations177 cited
    • 1979Equity Rights Issues and the Efficiency of the UK Stock Market163 cited
    • 1989The timing of and incentives for annual earnings forecasts near interim earnings announcements148 cited
    • 1989Efficient Market Hypothesis146 cited
    • 1990INSIDER TRADING: SOME EVIDENCE ON MARKET EFFICIENCY AND DIRECTORS' SHARE DEALINGS IN GREAT BRITAIN133 cited
    • 2002An investigation of insider trading profits in the Spanish stock market105 cited
    • 2007Measuring the costs and benefits of regulation: Conceptual issues in securities markets103 cited
    • 2018Mandating Women on Boards: Evidence from the United States95 cited
    • 1975Regulation in America95 cited
    • 2006Bank Monitoring and Environmental Risk90 cited