Cespa is with the CSEF, Università di Salerno, and CEPR. I thank Abhijit Banerjee, Giacinta Cestone, Antoine Faure-Grimaud, Thierry Foucault, Diego García, Piero Gottardi, Eugene Kandel, Stefano Lovo, Marco Pagano, Masako Ueda, Xavier Vives, Lucy White, as well as seminar participants at the Dauphine Workshop in Financial Market Quality (Euronext, Paris), the INSEAD-HEC-Delta-PricewaterhouseCoopers Workshop on Information and Financial Markets (INSEAD, Paris), the 1st CSEF–IGIER Symposium on Economics and Institutions (Anacapri), the XIV International Tor Vergata Conference on Banking and Finance (Rome), the 2004 CEPR European Summer Symposium in Financial Markets (Gerzensee), Università di Napoli, IGIER (Università Bocconi), University of Copenhagen, and Banca d'Italia for valuable comments. The remarks provided by an anonymous referee and the Associate Editor considerably enhanced the paper. Financial support from Fundación BBVA, Ministerio de Ciencia y Tecnología (BEC2002-00429 and Programa Ramón y Cajal), Ministero dell'Istruzione, dell'Università e della Ricerca, and Regione Campania is gratefully acknowledged. The paper received the award for the best paper presented at the Young Economist Session of the XIV International Tor Vergata Conference on Banking and Finance, Università di Roma Tor Vergata. The usual disclaimer applies.
Information Sales and Insider Trading with Long-Lived Information
Version of Record online: 1 APR 2008
© 2008 the American Finance Association
The Journal of Finance
Volume 63, Issue 2, pages 639–672, April 2008
How to Cite
CESPA, G. (2008), Information Sales and Insider Trading with Long-Lived Information. The Journal of Finance, 63: 639–672. doi: 10.1111/j.1540-6261.2008.01327.x
- Issue online: 1 APR 2008
- Version of Record online: 1 APR 2008
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