/desautels/taxonomy/term/1167/all en /desautels/channels/news/informed-options-trading-prior-ma-announcements-insider-trading-255569 <p><strong>Authors</strong>: Augustin, P., Brenner, M., and Subrahmanyam, M. G. </p> <p><strong>Publications</strong>: <em>Social Science Research Network</em></p> Wed, 23 Sep 2015 14:58:42 +0000 arifa.nitol@mail.mcgill.ca 64848 at /desautels /desautels/channels/news/professor-patrick-augustin-wins-best-paper-empirical-finance-255643 <p>Professor <strong>Patrick Augustin</strong> wins Best Paper on Empirical Finance at the 2015 Northern Finance Association Annual Meeting for his paper "Informed Options Trading prior to M&A Announcements: Insider Trading?" with co-authors Menachem Brenner and Marti G. Subrahmanyam.</p> Fri, 25 Sep 2015 17:22:12 +0000 veronique.beaulieu-fowler@mcgill.ca 64854 at /desautels /desautels/channels/news/insider-trading-investigators-have-blind-spot-243609 <p>Over the past year, a record 266 companies have spun off divisions in a trend bankers are calling “Spinmania.” If history is any guide, about 35 of those deals will have leaked undetected to inside traders.</p> <p>A new study by a team of finance professors suggests one in eight corporate spinoffs and divestments in the U.S. between 1996 and the end of 2013 was preceded by suspicious trading in options markets. The Securities and Exchange Commission hasn’t brought a single case relating to such trading then or since, according to the report, due to be published later this month. </p> Mon, 16 Mar 2015 17:31:36 +0000 cynthia.wong3@mcgill.ca 63890 at /desautels /desautels/channels/news/study-lots-suspicious-trading-not-many-convictions-237642 <p><span>According to a new study, insider trading often occurs during merger and acquisitions and is rarely punished. BNN takes a closer look with one of the report's co-authors, </span><strong>Patrick Augustin</strong><span>, Assistant Professor of Finance, Desautels Faculty of Management, ���ϲ����� University. </span><br /><br /><span>Watch full video: </span><a href="http://www.bnn.ca/Video/player.aspx?vid=401057" target="_blank">Business News Network</a></p> Thu, 24 Jul 2014 17:28:08 +0000 joy.wang@mail.mcgill.ca 62988 at /desautels /desautels/channels/news/rampant-insider-trading-rarely-leads-prosecution-says-study-237478 <p><span>Insider trading continues to be “pervasive” before merger and acquisition deals but rarely leads to prosecutions, according to an analysis of unusual trading patterns by a team of professors in Canada and the United States.</span></p> Tue, 15 Jul 2014 20:57:17 +0000 joy.wang@mail.mcgill.ca 62920 at /desautels /desautels/channels/news/hillshire-options-bring-bacon-237406 <p>Bullish options bets on <a href="http://search.proquest.com/newsstand/docview/1538374531/90B2FCB3D0774B09PQ/1?accountid=12339">Hillshire</a> Brands Co. stand to deliver millions of dollars in profits to one or more traders who correctly wagered in recent weeks that the company's stock would surge.</p> Tue, 08 Jul 2014 17:22:56 +0000 joy.wang@mail.mcgill.ca 62901 at /desautels /desautels/channels/news/problem-insider-obsession-237262 <p><span>If investors needed another reason to distrust the stock market, here’s a doozy. A study by a trio of researchers in the U.S. and Canada into </span><span>insider trading</span><span> found that one-quarter of the big merger and acquisition (M&A) deals over a 15-year period—roughly 460 transactions in total—may have seen people profiting on information before it was public.</span></p> Wed, 25 Jun 2014 16:41:33 +0000 joy.wang@mail.mcgill.ca 62878 at /desautels /desautels/channels/news/are-all-insiders-rogue-traders-237228 <p><span>Insider trading is a topic of intense public debate these days, but this debate must be framed in the context of a clear, objective definition of informed versus insider trading.</span></p> Wed, 25 Jun 2014 15:37:33 +0000 joy.wang@mail.mcgill.ca 62872 at /desautels /desautels/channels/news/die-meisten-insiderhandler-kommen-davon-237222 <p>Ofter als gedacht wird illegal ve rsucht, vertrauliche Kenntnisse an der Borse zu versilbern.</p> Wed, 25 Jun 2014 15:10:39 +0000 joy.wang@mail.mcgill.ca 62866 at /desautels /desautels/channels/news/study-asserts-startling-numbers-insider-trading-rogues-237136 <p><span>There is often a tip. Before many big mergers and acquisitions, word leaks out to select investors who seek to covertly trade on the information. Stocks and options move in unusual ways that aren’t immediately clear. Then news of the deals crosses the ticker, surprising everyone except for those already in the know. Sometimes the investor is found out and is prosecuted, sometimes not.</span></p> Tue, 17 Jun 2014 19:59:16 +0000 joy.wang@mail.mcgill.ca 62860 at /desautels /desautels/channels/news/two-groundbreaking-academic-mergers-acquisitions-studies-win-irrc-institute-investor-r <p>Two academic research papers that promise to spark new scrutiny of corporate actions such as mergers and acquisitions have won the prestigious Investor Responsibility Research Center Institute (IRRCi) annual investor research competition that focuses on the interaction of the real economy with investment theory. The winning research teams will be presented with a $10,000 award for each paper:</p> Thu, 12 Jun 2014 19:31:55 +0000 joy.wang@mail.mcgill.ca 62848 at /desautels