TY  - UNPD
A1  - Aitken, Michael
A1  - Cumming, Douglas J.
A1  - Zhan, Feng
T1  - Exchange trading rules, surveillance and insider trading : [draft 15 oct 2013]
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2013,15
N2  - 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.
T3  - CFS working paper series - 2013, 15 
KW  - insider trading
KW  - surveillance
KW  - exchange trading rules
KW  - law and finance
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/32492
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-324924
IS  - draft 15 oct 2013
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -