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Bennfentes kereskedelem
[Insider trading]

Author

Listed:
  • Vajda, István

Abstract

A bennfentes kereskedések hozamának elemzése mind profit-, mind pedig szabályozási szempontból fontos. A szabályozás számos közgazdasági és jogi szakmai problémát felvet. A tanulmány először a hozamelemzés előkészítését vizsgálja a szabályozás oldaláról, majd a bennfentes kereskedés hozamának elemzésével foglalkozik. A szerző a BÉT részvényszekció kereskedésének adataival vizsgálatot végez az 1997- 2001 időszakra. A rendkívüli hozamok elemzésével - statisztikai szignifikanciája alapján - dönti el, hogy a kereskedések mögött állt-e árérzékeny, nem nyilvános többletinformáció. Azt is vizsgálja, hogy a piac szereplői körében a bennfentes személy kereskedésének mint hírnek, milyen hatása volt.* Journal of Economic Literature (JEL) kód: G14, G19.

Suggested Citation

  • Vajda, István, 2003. "Bennfentes kereskedelem [Insider trading]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 235-253.
    • Handle: RePEc:ksa:szemle:602
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    References listed on IDEAS

    as
    1. Meulbroek, Lisa K, 1992. "An Empirical Analysis of Illegal Insider Trading," Journal of Finance, American Finance Association, vol. 47(5), pages 1661-1699, December.
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    3. Leslie A. Jeng & Andrew Metrick & Richard Zeckhauser, 1999. "The Profits to Insider Trading: A Performance-Evaluation Perspective," NBER Working Papers 6913, National Bureau of Economic Research, Inc.
    4. Fama, Eugene F., 1998. "Market efficiency, long-term returns, and behavioral finance," Journal of Financial Economics, Elsevier, vol. 49(3), pages 283-306, September.
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    7. Givoly, Dan & Palmon, Dan, 1985. "Insider Trading and the Exploitation of Inside Information: Some Empirical Evidence," The Journal of Business, University of Chicago Press, vol. 58(1), pages 69-87, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G19 - Financial Economics - - General Financial Markets - - - Other

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