The effect of Sarbanes-Oxley on the timely disclosure of restricted stock trading
Author
Abstract
Suggested Citation
DOI: 10.1016/j.racreg.2012.11.011
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Jana P. Fidrmuc & Marc Goergen & Luc Renneboog, 2006.
"Insider Trading, News Releases, and Ownership Concentration,"
Journal of Finance, American Finance Association, vol. 61(6), pages 2931-2973, December.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Other publications TiSEM 2cc19d5c-a469-4877-a6f4-a, Tilburg University, School of Economics and Management.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Discussion Paper 2005-025, Tilburg University, Tilburg Law and Economic Center.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Other publications TiSEM 12ebc2dc-8f53-4136-b360-6, Tilburg University, School of Economics and Management.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Discussion Paper 2005-97, Tilburg University, Center for Economic Research.
- Seyhun, H. Nejat, 1986. "Insiders' profits, costs of trading, and market efficiency," Journal of Financial Economics, Elsevier, vol. 16(2), pages 189-212, June.
- Grossman, Sanford J & Stiglitz, Joseph E, 1980.
"On the Impossibility of Informationally Efficient Markets,"
American Economic Review, American Economic Association, vol. 70(3), pages 393-408, June.
- Sanford J Grossman & Joseph E Stiglitz, 1997. "On the Impossibility of Informationally Efficient Markets," Levine's Working Paper Archive 1908, David K. Levine.
- Wallace, James S. & Krivogorsky, Victoria & Ferris, Kenneth R., 2009. "A perspective on regulatory paradigms: The case of IRS and Sarbanes-Oxley approaches to executive compensation-related regulation," Research in Accounting Regulation, Elsevier, vol. 21(2), pages 111-117.
- Karim, Khondkar E. & Pinsker, Robert E., 2011. "Has Form 8-K reporting become timelier post-regulation fair disclosure and the Sarbanes–Oxley Act? Initial evidence," Research in Accounting Regulation, Elsevier, vol. 23(2), pages 167-171.
- Vakkur, Nicholas V. & McAfee, R. Preston & Kipperman, Fred, 2010. "The unintended effects of the Sarbanes–Oxley Act of 2002," Research in Accounting Regulation, Elsevier, vol. 22(1), pages 18-28.
- Lin, Ji-Chai & Howe, John S, 1990. "Insider Trading in the OTC Market," Journal of Finance, American Finance Association, vol. 45(4), pages 1273-1284, September.
- Huddart, Steven & Hughes, John S & Levine, Carolyn B, 2001. "Public Disclosure and Dissimulation of Insider Trades," Econometrica, Econometric Society, vol. 69(3), pages 665-681, May.
- Leslie A. Jeng & Andrew Metrick & Richard Zeckhauser, 2003. "Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 453-471, May.
- Jonas, Gregory A. & Moehrle, Stephen R. & Reynolds-Moehrle, Jennifer A., 2010. "Developments in accounting regulation: A synthesis and annotated bibliography of evidence and commentary in the 2007 academic literature," Research in Accounting Regulation, Elsevier, vol. 22(2), pages 71-86.
- Etebari, Ahmad & Tourani-Rad, Alireza & Gilbert, Aaron, 2004. "Disclosure regulation and the profitability of insider trading: Evidence from New Zealand," Pacific-Basin Finance Journal, Elsevier, vol. 12(5), pages 479-502, November.
- Arya, Anil & Glover, Jonathan & Mittendorf, Brian & Narayanamoorthy, Ganapathi, 2005. "Unintended consequences of regulating disclosures: The case of Regulation Fair Disclosure," Journal of Accounting and Public Policy, Elsevier, vol. 24(3), pages 243-252.
- Kyle, Albert S, 1985. "Continuous Auctions and Insider Trading," Econometrica, Econometric Society, vol. 53(6), pages 1315-1335, November.
- Moehrle, Stephen R. & Farmer, Timothy & Reynolds-Moehrle, Jennifer A. & Stuerke, Pamela, 2011. "Developments in accounting regulation: A synthesis and annotated bibliography of evidence and commentary in the 2008 academic literature," Research in Accounting Regulation, Elsevier, vol. 23(2), pages 97-113.
- Baesel, Jerome B. & Stein, Garry R., 1979. "The Value of Information: Inferences from the Profitability of Insider Trading," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(3), pages 553-571, September.
- Shijun Cheng & Venky Nagar & Madhav V. Rajan, 2007. "Insider Trades and Private Information: The Special Case of Delayed-Disclosure Trades," The Review of Financial Studies, Society for Financial Studies, vol. 20(6), pages 1833-1864, November.
- Haim Mendelson, 2004. "Strategic Trading, Liquidity, and Information Acquisition," The Review of Financial Studies, Society for Financial Studies, vol. 17(2), pages 295-337.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Foltin, Craig, 2017. "The role of federal regulation in state and local governments and the potential impact of new reforms: An assessment of the effectiveness of reporting, disclosure, and funding," Research in Accounting Regulation, Elsevier, vol. 29(1), pages 19-29.
- Franzen, Laurel & Meckfessel, Michele & Moehrle, Stephen R. & Reynolds-Moehrle, Jennifer A., 2015. "Developments in accounting regulation: A synthesis and annotated bibliography of evidence and commentary in the 2013 academic literature," Research in Accounting Regulation, Elsevier, vol. 27(2), pages 138-159.
- Fogel, Kathy & El-Khatib, Rwan & Feng, Nancy Chun & Torres-Spelliscy, Ciara, 2015. "Compliance costs and disclosure requirement mandates: Some evidence," Research in Accounting Regulation, Elsevier, vol. 27(1), pages 83-87.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Laurel Franzen & Xu Li & Oktay Urcan & Mark E. Vargus, 2014. "The Market Response To Insider Sales Of Restricted Stock Versus Unrestricted Stock," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(1), pages 99-118, February.
- Semih Tartaroglu & Michael Imhof, 2017. "Insider trading and response to earnings announcements: the impact of accelerated disclosure requirements," Review of Quantitative Finance and Accounting, Springer, vol. 49(2), pages 315-336, August.
- Chang, Millicent & Watson, Iain, 2015. "Delayed disclosure of insider trades: Incentives for and indicators of future performance?," Pacific-Basin Finance Journal, Elsevier, vol. 35(PA), pages 182-197.
- Halim, Edward & Riyanto, Yohanes E., 2020. "Asset markets with insider trading disclosure rule and reselling constraint: An experimental analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 110(C).
- Contreras, Harold & Marcet, Francisco, 2021. "Sell-side analyst heterogeneity and insider trading," Journal of Corporate Finance, Elsevier, vol. 66(C).
- Van Geyt, Debby & Van Cauwenberge, Philippe & Vander Bauwhede, Heidi, 2014. "Does high-quality corporate communication reduce insider trading profitability?," International Review of Law and Economics, Elsevier, vol. 37(C), pages 1-14.
- Harjeet S. Bhabra & Ashrafee T. Hossain, 2015. "Market conditions, governance and the information content of insider trades," Review of Financial Economics, John Wiley & Sons, vol. 24(1), pages 1-11, January.
- Skaife, Hollis A. & Veenman, David & Wangerin, Daniel, 2013. "Internal control over financial reporting and managerial rent extraction: Evidence from the profitability of insider trading," Journal of Accounting and Economics, Elsevier, vol. 55(1), pages 91-110.
- Yogesh Chauhan & Chakrapani Chaturvedula & Viswanathan Iyer, 2014. "Insider Trading, Market Efficiency, and Regulation - A Literature Review," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 6(1), pages 007-014, June.
- Betzer, André & Gider, Jasmin & Metzger, Daniel & Theissen, Erik, 2009.
"Strategic trading and trade reporting by corporate insiders,"
CFR Working Papers
09-15, University of Cologne, Centre for Financial Research (CFR).
- André Betzer & Jasmin Gider & Daniel Metzger & Erik Theissen, 2011. "Strategic Trading and Trade Reporting by Corporate Insiders," Schumpeter Discussion Papers sdp11015, Universitätsbibliothek Wuppertal, University Library.
- Betzer, André & Gider, Jasmin & Metzger, Daniel & Theissen, Erik, 2011. "Strategic trading and trade reporting by corporate insiders," CFS Working Paper Series 2011/04, Center for Financial Studies (CFS).
- Betzer, André & Gider, Jasmin & Metzger, Daniel & Theissen, Erik, 2010. "Strategic trading and trade reporting by corporate insiders," CFR Working Papers 09-15 [rev.], University of Cologne, Centre for Financial Research (CFR).
- Hans Degryse & Frank Jong & Jérémie Lefebvre, 2014.
"An Empirical Analysis of Legal Insider Trading in The Netherlands,"
De Economist, Springer, vol. 162(1), pages 71-103, March.
- Hans Degryse & Frank de Jong & Jérémie Lefebvre, 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," CESifo Working Paper Series 2687, CESifo.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Other publications TiSEM 0d74f29a-ed4f-4c26-9c55-9, Tilburg University, School of Economics and Management.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Discussion Paper 2009-48, Tilburg University, Center for Economic Research.
- Guanming He & Helen Mengbing Ren & Richard Taffler, 2021. "Do corporate insiders trade on future stock price crash risk?," Review of Quantitative Finance and Accounting, Springer, vol. 56(4), pages 1561-1591, May.
- Bhabra, Harjeet S. & Hossain, Ashrafee T., 2015. "Market conditions, governance and the information content of insider trades," Review of Financial Economics, Elsevier, vol. 24(C), pages 1-11.
- Steven J. Huddart & Bin Ke, 2007. "Information Asymmetry and Cross†sectional Variation in Insider Trading," Contemporary Accounting Research, John Wiley & Sons, vol. 24(1), pages 195-232, March.
- Katselas, Dean, 2018. "Insider trading in Australia: Contrarianism and future performance," Pacific-Basin Finance Journal, Elsevier, vol. 48(C), pages 112-128.
- Fabrizio Spargoli & Christian Upper, 2018. "Are banks opaque? Evidence from insider trading," BIS Working Papers 697, Bank for International Settlements.
- Millicent Chang & Xiaolin Qian & Jing Yu & Yvonne See, 2017. "Does director trading change the information environment?," Australian Journal of Management, Australian School of Business, vol. 42(2), pages 205-229, May.
- Lambe, Brendan J., 2016. "An unreliable canary: Insider trading, the cash flow hypothesis and the financial crisis," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 151-158.
- Aktas, Nihat & de Bodt, Eric & Van Oppens, Hervé, 2008. "Legal insider trading and market efficiency," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1379-1392, July.
- Foley, Sean & Kwan, Amy & McInish, Thomas H. & Philip, Richard, 2016. "Director discretion and insider trading profitability," Pacific-Basin Finance Journal, Elsevier, vol. 39(C), pages 28-43.
More about this item
Keywords
Insider trading; Restricted stock; Sarbanes-Oxley Act;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reacre:v:25:y:2013:i:1:p:47-52. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/research-in-accounting-regulation .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.