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Arguments in favour of insider trading
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The Common perception about the word ‘insider trading’ is that all insiders’ transactions are illegal. This misperception arises because some trades by insiders are illegal while others are absolutely legal. In this study, we study insider trading transactions those are perfectly legal, where the information of these trades is publicly available. The insider trading issue not only attracts finance literature (see, e.g., Lorie and Niederhoffer (1968), Jaffe (1974), Seyhun (1986, 1998), Rozeff and Zaman (1988), Lin and Howe (1990), and Lakonishok and Lee (2001). but also attracts law and economics literature (see, e.g., Manna (1966), Georgakopoulos (1993), and Carlton and Fischel (1983)). After extensive study of literature on insider trading, we find the following three motivations to study reported insider trading Science After the classic paper of Fama (1970), everybody debates about the stock market efficiency. The reported insider trading transactions provide us an opportunity to measure market reaction (semi-strong efficiency) around the day of reporting of insider trades, which has scientific implications of insider trading on market efficiency. Optimal trading Strategies Investors or traders use various trading strategies to obtain excess returns, for example, the value-based strategy or the contrarian strategy. These strategies use fundamental factor to market price ratios, for example, book to market ratio (B/M) or earning to price ratio (E/P) ratio, to identify the factors that make above market returns. When stocks and companies data are freely available to money managers or traders, then it is hard to find a particular trading strategy that is profitable over others. Can the information content of ins... ... middle of paper ... ... subject to more idiosyncratic risk than any diversify investment portfolio or to survive, he needs liquidity, for example, to pay home rent. Thus, it can be expected that he sells more stock on the open market (Ofek and Yermack, 2000), even his stock is undervalued (Meulbroek, 2000). Therefore, we assume that insider sells on intangible assets’ firm are less likely to convey information to public than tangible assists’ firm. The rest of the study proceeds as follows. The next section describes about Insider trading regulation of India along with the comparison between Insider regulation on U.S and on India. Section III lays out brief discussion of previous literature and theoretical back ground to our hypothesis. Section IV deals with hypotheses formations. Section V describes about the methodology and Section VI presents the expected outcome of the study.
Risk can defined as “the effect of uncertainty on objectives”. Every time an organisation enters into a contract it is inevitably facing commercial risks. Commercial risk management is the identification and assessment and minimising of uncertainty to control the impact of negative events to assure, as far as possible, that uncertainty does not affect the business objectives. Commercial risk can be managed in many ways including the establishment of policies & procedure, management of change, peer
The problem is to find a form of association … in which each, while uniting himself with all, may still obey himself alone, and remain as free as before.’ Does Rousseau have a convincing solution to the problem he poses? The opening line of Jean-Jacques Rousseau's influential work 'The Social Contract' (1762), is 'man is born free, and he is everywhere in chains. Those who think themselves masters of others are indeed greater slaves than they'. These are not physical chains, but psychological
resolved by an arbitrator who will interpret the contract. If an arbitrator awards a remedy, a court may be called upon to enforce the award. Court enforcement is necessary in very few arbitration cases, especially in the international context (Bartlett). Disputes involving licensing contracts are often lengthy and complex and involve numerous parties. Most of the lawsuits involving union employees are resolved through arbitration, since union contracts have long resorted to this process to expedite
on Contracts § 7:21 (4th ed.) b) Unconscionability a) "A contract may be unenforceable due to unequal bargaining power if the party challenging the contract . . . was denied the opportunity to seek legal advice prior to entering into the agreement; or if the contract is somehow unconscionable." i) § 71:43.Disproportionate exchange of value; Disproportionate bargaining power, 28 Williston on Contracts § 71:43 (4th ed.) b) At a minimum, an unconscionability claim requires proof that a contract “was
classroom size to ensure students get the education they deserve, a policy was created to ensure each and every student receives the quality of education they deserve, Students as well as teaches are in the center of one of the oldest debates of educational policies affecting all venues where teaching and learning takes place. One crucial topic that is heard about and that educators are aware of is classroom size. There can be a big difference in teaching and learning depending on class size. Having
A contract is defined as a mutually binding agreement which obligates a seller to provide something of value for example a product or service and at the same time obligates a buyer to provide monetary compensation as agreed. Contractual agreements range from simple to complex agreements where the reflection of simplicity or complexity of deliverables or efforts required is documented. For best practices, it is usually adviced that parties to a contract must have the agreement written and for enforcement
TITLE AREA: law of contract Case Information SPECIFIC AREA OF LAW: - Unsigned Contracts/Ticket Cases (imposed terms) BACKGROUND Contract: a contract is a lawful agreement between two or more parties within their contractual capacities, communicating their intentions to each other, without vagueness, being of the same mind and seriously intending to create legal obligations which are possible in performance. Ticket cases: these refer to notices, tickets and other unsigned documents. Imposed terms:
Design and build is a contractual arrangement where the Contractor offers to design and build a construction project for a contract sum which is inclusive of both the design and construction costs. The design and build contractual arrangement is an attractive option for clients. It simplifies the contractual links between the parties to the main contract because the Contractor accepts responsibility for both design and construction. The client, instead of approaching an Architect for a
is born free, but he is everywhere in chains," Rousseau immediately asserts that the modern society represses the physical freedom that is our birthright. And that it does nothing to assure civil freedom for the benefit of society. He suggests that legitimate political authority comes only from the social contract. The social contract seems to be defined as an implicit agreement amongst the members of society to cooperate for the benefit of society. An example is to sacrifice individual freedom for
just-in-time will result in a significant reduction of inventories. As a matter of fact, inventory levels are key indicators for measuring just-in-time performance (Harrison). The just-in-time philosophy on inventory management is simple: - Strive for a level of zero inventories. - Produce items at the rate required by the customer. - Eliminate all unnecessary lead times. - Reduce setup costs to achieve the smallest economical lot size - ideally, a quantity of one. - Optimize material flow from suppliers
surrounded by the vast ocean with no land in sight except a small strip of brown in the distance. Great thinkers throughout history, have been exploring the visible variety of shapes, colors, and sizes, though the greatest of these are size, from the smallest atom to gargantuan stars. These massive differences in size change the way we view ourselves in the universe. (470) Garth Illingworth, from the University of California, has studied galaxies more than 13 billion light years away from us. Distances so
CBA Collective Bargaining Agreements A collective bargaining agreement collectively sets the terms on which an employer offers individual work contracts to each of its employees in the bargaining unit. A bargaining agreement, also herein referred to as a labour agreement, is a legally enforceable written commitment, which states the rights and duties of all parties involved. The labour agreement should be made in good faith and is intended to be observed and not violated. The National Labour
of our body weight” (Srivastava & Chosdol, 2007). “The muscular system consists of highly specialized cells called muscle fibers” (Srivastava & Chosdol, 2007). The features of each muscle fiber define the strength with which it contracts and the specific function it does. Anatomically and functionally, muscle fiber can be divided into three types: skeletal, smooth and cardiac. Below we summarize in a table the different characteristics of each type of muscle fibe... ... middle of paper ... .
1.0 INTRODUCTION Employment under fixed-term contract has gained popularity among the employers and displaced the standard form of employment in recent years. It is a category of employment where the relationship between the employer and the employee would last for a specific period of time or until a certain task has been completed. This chapter concern with the introduction of the research title which is ‘Legal Review on the Fixed-term Contract Worker: Comparative Analyses between Malaysia and
pump with four chambers made of their own special muscle called cardiac muscle. Its interwoven muscle fibers enable the heart to contract or squeeze together automatically (Colombo 7). It’s about the same size of a fist and weighs some where around two hundred fifty to three hundred fifty grams (Marieb 432). The size of the heart depends on a person’s height and size. The heart wall is enclosed in three layers: superficial epicardium, middle epicardium, and deep epicardium. It is then enclosed