FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W3133491231> ?p ?o ?g. }

• W3133491231 abstract "Accepting the argument made by Manne, Epstein and others that firms wishing to allow their employees to insider trade should be permitted to do so, this article shows that there is still a crucial role for government in regulating insider trading. In particular, allowing employees to profit by insider trading is a form of employee compensation that, in contradistinction from conventional forms of equity compensation, results in unknowable and effectively unlimited costs to the company. Since providing employee compensation in this form causes the company to lose control of its compensation expense, even if insider trading were legal, virtually every company would rely on conventional forms of employee compensation and prohibit its employees from insider trading. But, pace Epstein, companies lack the means to detect insider trading by their employees, and even when they do catch employees insider trading, companies can impose only mild contractual sanctions, generally not exceeding disgorgement of profits and dismissal. As a result, although an efficient agreement between a company and its employee would prohibit the employee from insider trading, this prohibition cannot be effectively enforced by the company. Government, with its usual law enforcement powers, is better able to detect insider trading and can impose more severe sanctions on violators, including criminal penalties. Government should thus enforce a ban on insider trading in those instances, which will be virtually all instances, in which a company prohibits its employees from insider trading. The efficient solution is thus a hybrid system of private prohibition and public enforcement. Such a system is not unusual but the norm. Employers prohibit employees from embezzling their money and stealing their property, and employees are subject to contractual sanctions and dismissal for violating these prohibitions, but we still need statutes against theft to generate an optimal level of deterrence. This is all the more true when the employee misappropriates information, which is much harder to detect than a theft of money or property." @default.
• W3133491231 created "2021-03-15" @default.
• W3133491231 creator A5060096320 @default.
• W3133491231 date "2021-01-01" @default.
• W3133491231 modified "2023-09-27" @default.
• W3133491231 title "Insider Trading and the Public Enforcement of Private Prohibitions: Some Complications in Enforcing Simple Rules for a Complex World" @default.
• W3133491231 cites W1046647694 @default.
• W3133491231 cites W1898363016 @default.
• W3133491231 cites W1934314763 @default.
• W3133491231 cites W1997328631 @default.
• W3133491231 cites W2139723827 @default.
• W3133491231 cites W272319181 @default.
• W3133491231 cites W2795507224 @default.
• W3133491231 cites W2796023851 @default.
• W3133491231 cites W2804067029 @default.
• W3133491231 cites W3124882399 @default.
• W3133491231 cites W3125753879 @default.
• W3133491231 cites W4207050358 @default.
• W3133491231 doi "https://doi.org/10.2139/ssrn.3764835" @default.
• W3133491231 hasPublicationYear "2021" @default.
• W3133491231 type Work @default.
• W3133491231 sameAs 3133491231 @default.
• W3133491231 citedByCount "0" @default.
• W3133491231 crossrefType "journal-article" @default.
• W3133491231 hasAuthorship W3133491231A5060096320 @default.
• W3133491231 hasConcept C10138342 @default.
• W3133491231 hasConcept C111472728 @default.
• W3133491231 hasConcept C138885662 @default.
• W3133491231 hasConcept C144133560 @default.
• W3133491231 hasConcept C162324750 @default.
• W3133491231 hasConcept C17744445 @default.
• W3133491231 hasConcept C190253527 @default.
• W3133491231 hasConcept C199539241 @default.
• W3133491231 hasConcept C2778971194 @default.
• W3133491231 hasConcept C2779777834 @default.
• W3133491231 hasConcept C2780586882 @default.
• W3133491231 hasConcept C2781078320 @default.
• W3133491231 hasConcept C38652104 @default.
• W3133491231 hasConcept C41008148 @default.
• W3133491231 hasConceptScore W3133491231C10138342 @default.
• W3133491231 hasConceptScore W3133491231C111472728 @default.
• W3133491231 hasConceptScore W3133491231C138885662 @default.
• W3133491231 hasConceptScore W3133491231C144133560 @default.
• W3133491231 hasConceptScore W3133491231C162324750 @default.
• W3133491231 hasConceptScore W3133491231C17744445 @default.
• W3133491231 hasConceptScore W3133491231C190253527 @default.
• W3133491231 hasConceptScore W3133491231C199539241 @default.
• W3133491231 hasConceptScore W3133491231C2778971194 @default.
• W3133491231 hasConceptScore W3133491231C2779777834 @default.
• W3133491231 hasConceptScore W3133491231C2780586882 @default.
• W3133491231 hasConceptScore W3133491231C2781078320 @default.
• W3133491231 hasConceptScore W3133491231C38652104 @default.
• W3133491231 hasConceptScore W3133491231C41008148 @default.
• W3133491231 hasLocation W31334912311 @default.
• W3133491231 hasOpenAccess W3133491231 @default.
• W3133491231 hasPrimaryLocation W31334912311 @default.
• W3133491231 hasRelatedWork W1546901583 @default.
• W3133491231 hasRelatedWork W1994267759 @default.
• W3133491231 hasRelatedWork W2370635872 @default.
• W3133491231 hasRelatedWork W273314610 @default.
• W3133491231 hasRelatedWork W2766179477 @default.
• W3133491231 hasRelatedWork W2781032828 @default.
• W3133491231 hasRelatedWork W2991687470 @default.
• W3133491231 hasRelatedWork W3123105713 @default.
• W3133491231 hasRelatedWork W3127036720 @default.
• W3133491231 hasRelatedWork W848442873 @default.
• W3133491231 isParatext "false" @default.
• W3133491231 isRetracted "false" @default.
• W3133491231 magId "3133491231" @default.
• W3133491231 workType "article" @default.