Securities Regulation
Insider Trading: Should It Be Prohibited?
Hayne E. Leland
- Year
- 1992
- Venue
- Journal of Political Economy
- Level
- Advanced
Summary
Models insider trading in competitive financial markets and evaluates its effects on investment, price informativeness, market liquidity, and welfare. The paper identifies conditions under which insider trading can improve price discovery while also reducing liquidity and altering real investment incentives.
Citation
Hayne E. Leland. "Insider Trading: Should It Be Prohibited?." Journal of Political Economy, 1992.
DOI: 10.1086/261843
BibTeX
@article{Leland1992Insider,
title = {Insider Trading: Should It Be Prohibited?},
author = {Hayne E. Leland},
year = {1992},
journal = {Journal of Political Economy},
doi = {10.1086/261843},
url = {https://doi.org/10.1086/261843}
}