Revisiting advance disclosure of insider trading

Zhenyu Cui, Jun Deng and Stephen L. Lenkey

Economics Letters, 2019, vol. 182, issue C, 78-81

Abstract: We derive a parametric restriction necessary and sufficient for an equilibrium to exist in the model of Lenkey (2014). Given this restriction, the equilibrium is unique, correcting findings in the original article that multiple equilibria may exist with advance disclosure.

Keywords: Insider trading; Disclosure (search for similar items in EconPapers)
JEL-codes: G14 G18 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:182:y:2019:i:c:p:78-81

DOI: 10.1016/j.econlet.2019.06.004

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