Asset markets with insider trading disclosure rule and reselling constraint: An experimental analysis,
Abstract
null null We investigate the impact of compulsory insider-trading disclosure and its combination with a mandatory holding rule on price predictability and asset mispricing. We modify the dynamic price-adjustment model to account for insiders’ private information. Our results show that insiders produce weakly-characterized price signals that induce a less than proportional price adjustment to the changes in the dividend value, in both markets...
Paper Details
Title
Asset markets with insider trading disclosure rule and reselling constraint: An experimental analysis,
Published Date
Jan 1, 2020
Volume
110
Pages
103745
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