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Views from the regulated: financial analysts and insider information

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  • Gunnar Wahlström

Abstract

The abuse of insider information has the potential to destroy confidence in companies, which may erode company market values and, ultimately, destabilise societies. This article presents original information, acquired through 25 semi-structured interviews, about financial analysts' attitudes towards the use of insider information. Although much of the literature asserts that the role of professional associations in the regulatory function has decreased, the article proposes reinforcing the role of such associations as a way of addressing the problem of regulating the abuse of insider information. The article poses the question: How can the role of associations in financial regulation be reinforced? The main conclusion, supported by the theoretical framework, is that the problems of insider information abuse are best solved in a public debate initiated by the relevant associations. Such a public debate could lead to greater awareness of the problems, to possible solutions and to improved professional conduct. Ultimately, social order may be better enforced and maintained. Thus, in this way, the role of associations themselves may be strengthened.

Suggested Citation

  • Gunnar Wahlström, 2012. "Views from the regulated: financial analysts and insider information," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 4(3), pages 272-290.
    • Handle: RePEc:ids:injmfa:v:4:y:2012:i:3:p:272-290
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