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- Title
An event based approach for quantifying the effects of securities fraud in the IT industry.
- Authors
Switzer, Lorne; Wang, Jun
- Abstract
Detecting the incidence and impact of illegal insider trading is a difficult process since access to the actual trading records of insiders that overlap precisely with fraudulent events is difficult. This paper provides a case study of a specific IT stock in Canada that was successfully prosecuted in the Canadian court system for market manipulation and illegal insider trading violations. The study provides a quantification of the impact of insider trading activities by the President directly through his own account or through accounts under his control, and illustrates the impact of some off-exchange transactions by the impugned parties. Overall, the costs of the insider trading violations are quite high, given the significant wealth effects produced by the events surrounding this case.
- Subjects
BUSINESS; SECURITIES fraud; MARKET manipulation; STOCKS (Finance); INSIDER trading in securities
- Publication
Information Systems Frontiers, 2017, Vol 19, Issue 3, p457
- ISSN
1387-3326
- Publication type
Article
- DOI
10.1007/s10796-017-9753-3