内幕交易监管、投资者交易策略与市场利益分配
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财经研究 2010 年 第 36 卷第 05 期, 页码：103 - 113
摘要
参考文献
摘要
当证券市场实施内幕交易监管后,投资者的交易策略可能会发生改变,市场利益的分配也会发生相应的改变。文章在一个实施内幕交易监管的框架下,对内部人的利益分配进行了研究,发现内部人的利益不仅与内幕交易监管力度和执行能力有关,还与市场流动性、交易者类型、信息准确度和市场波动性等因素密切相关。同时,由于监管有效性幻觉和内部人分层现象的存在,内部人利益在一定时期内还可能出现反常变动。
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[9]Leland H E.Insider trading:Shouldit be prohibited?[J].Journal of Political Economy,1992,100:859-887.
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[12]Seyhun H N.The effectiveness of the insider-trading sanctions[J].Journal of LawandEconomics,1992,35(1):149-182.
[13]Shin Jhinyoung.The opti mal regulation of insider trading[J].Journal of Intermedia-tion,1996,5:49-73.
引用本文
姜华东, 乔晓楠. 内幕交易监管、投资者交易策略与市场利益分配[J]. 财经研究, 2010, 36(5): 103–113.
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