It is Insider Trading, but the Offenders are Really Outsiders

Kimberly L. Kempf; Nasser Arshadi; Thomas H. Eyssell

doi:10.1080/0735648X.1992.9721467

It is Insider Trading, but the Offenders are Really Outsiders

Kimberly L. Kempf, Nasser Arshadi, Thomas H. Eyssell

University of Missouri-St. Louis

Research output: Contribution to journal › Article › peer-review

Abstract

This paper examines insider trading, one form of white collar crime that has received virtually no attention from criminology. The development of laws and administrative policies designed to deter insider trading in the U.S. is chronicled and categorized as five distinct regulatory periods. This paper assesses the rationale of these policies, identifies the persons at whom they are aimed, and evaluates their overall success. A distinction between offender decision making by “inside-insiders” and “outside-insiders” is utilized to show the displacement effect of these anti-insider policies. Based on empirical evidence that existing efforts have failed to stop insider trading a recommendation is made for greater research attention to insider trading and reconsideration of existing SEC regulations.

Original language	American English
Journal	Journal of Criminal Justice
Volume	15
DOIs	https://doi.org/10.1080/0735648X.1992.9721467
State	Published - Jan 1 1992

Disciplines

Law
Psychology
Industrial Organization

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abstract = " This paper examines insider trading, one form of white collar crime that has received virtually no attention from criminology. The development of laws and administrative policies designed to deter insider trading in the U.S. is chronicled and categorized as five distinct regulatory periods. This paper assesses the rationale of these policies, identifies the persons at whom they are aimed, and evaluates their overall success. A distinction between offender decision making by “inside-insiders” and “outside-insiders” is utilized to show the displacement effect of these anti-insider policies. Based on empirical evidence that existing efforts have failed to stop insider trading a recommendation is made for greater research attention to insider trading and reconsideration of existing SEC regulations.",

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It is Insider Trading, but the Offenders are Really Outsiders

Abstract

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