How Insiders Traded before Rules

F. Braggion, L. Moore

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Abstract

Abstract: U.K. company insiders, such as directors, were legally allowed to trade in the shares of their own companies up until the Companies Act of 1980. We investigate the trading behaviour of directors over the period 1893 to 1907 in the U.K. Although insider trading was profitable, we find relatively few instances of directors who exploited their informational advantage.
Original languageEnglish
Place of PublicationTilburg
PublisherFinance
Number of pages25
Volume2012-007
Publication statusPublished - 2012

Publication series

NameCentER Discussion Paper
Volume2012-007

Keywords

  • Corporate Governance
  • Insider Trading
  • London Stock Exchange

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