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An Economic Analysis of the Bekaert NV Insider Trading Case

  • P. J. Engelen

This article contains a clinical study of Bekaert NV, the biggest insider trading case inBelgium. Up to now, no economic analysis of this case was ever conducted. It showed thatBelgian courts currently seem to lack knowledge of the functioning of financial markets toassess an insider trading case. Therefore their decisions give little guidance to futurelitigants. Using a law and economics framework, this case study is clarifying in severalaspects compared to a traditional legal analysis. The analysis focuses on two aspects of aninsider trading case. First, the price-sensitive character of the information is examined.Second, the standard of proof was examined.

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File URL: http://dspace.library.uu.nl/bitstream/handle/1874/309918/06.pdf
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Paper provided by Utrecht School of Economics in its series Working Papers with number 06-04.

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Date of creation: Jun 2006
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Handle: RePEc:use:tkiwps:0604
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  18. Litzenberger, Robert H & Ramaswamy, Krishna, 1982. " The Effects of Dividends on Common Stock Prices: Tax Effects or Information Effects?," Journal of Finance, American Finance Association, vol. 37(2), pages 429-43, May.
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