000051184 001__ 51184
000051184 005__ 20180122211100.0
000051184 037__ $$a642-2016-44377
000051184 041__ $$aen
000051184 084__ $$aG15
000051184 084__ $$aG18
000051184 084__ $$aK22
000051184 084__ $$aK42
000051184 245__ $$aWhen No Law is Better than a Good Law
000051184 260__ $$c2009-06-16
000051184 269__ $$a2009-06-16
000051184 270__ $$mhd35@cornell.edu$$pDaouk,   Hazem
000051184 300__ $$a66
000051184 336__ $$aWorking or Discussion Paper
000051184 490__ $$aWorking Paper
000051184 490__ $$aWP 2009-24
000051184 520__ $$aThis paper argues, both theoretically and empirically, that sometimes no securities law may be better than a good securities law that is not enforced. The first part of the paper formalizes the sufficient conditions under which this happens for any law. The second part of the paper shows that a
specific securities law - the law prohibiting insider trading - may satisfy these conditions. The third part of the paper takes this prediction to the data. We find that the cost of equity actually rises when some countries enact an insider trading law, but do not enforce it.
000051184 542__ $$fLicense granted by Judy Neno (jln4@cornell.edu) on 2009-06-16T18:17:44Z (GMT):

<center>  <h2> Deposit Agreement </h2> </center>
I represent that I am the creator of the digital material identified herein (&ldquo;Work&rdquo;).
I represent that the work is original and that I either own all rights of copyright 
or have the right to deposit the copy in a digital archive such as AgEcon Search. 
I represent that in regard to any non-original material included in the Work I have
secured written permission of the copyright owner (s) for this use or believe this 
use is allowed by law. I further represent that I have included all appropriate 
credits and attributions. I hereby grant the Regents of the University of Minnesota
(&ldquo;University&rdquo;), through AgEcon Search, a non-exclusive right to access, reproduce, 
and distribute the Work, in whole or in part, for the purposes of security, preservation,
and perpetual access. I grant the University a limited, non-exclusive right to make
derivative works for the purpose of migrating the Work to other media or formats in
order to preserve access to the Work. I do not transfer or intend to transfer any 
right of copyright or other intellectual property to the University. If the Deposit 
Agreement is executed by the Author�s Representative, the Representative shall separately
execute the following representation: I represent that I am authorized by the Author
to execute this Deposit Agreement on behalf of the Author.

000051184 650__ $$aInternational Development
000051184 6531_ $$ainsider trading
000051184 6531_ $$acost of capital
000051184 6531_ $$aemerging markets
000051184 6531_ $$asecurities law
000051184 6531_ $$aenforcement
000051184 700__ $$aBhattacharya, Utpal
000051184 700__ $$aDaouk, Hazem
000051184 8564_ $$s734449$$uhttp://ageconsearch.umn.edu/record/51184/files/WP%20Daouk%202009-24%20Bhattacharya%20_%20Daouk.pdf
000051184 887__ $$ahttp://purl.umn.edu/51184
000051184 909CO $$ooai:ageconsearch.umn.edu:51184$$pGLOBAL_SET
000051184 912__ $$nSubmitted by Judy Neno (jln4@cornell.edu) on 2009-06-16T18:20:48Z
No. of bitstreams: 1
WP Daouk 2009-24 Bhattacharya & Daouk.pdf: 734449 bytes, checksum: 50ad91851c2c5a2df9b92def40d01a7b (MD5)
000051184 912__ $$nMade available in DSpace on 2009-06-16T18:20:49Z (GMT). No. of bitstreams: 1
WP Daouk 2009-24 Bhattacharya & Daouk.pdf: 734449 bytes, checksum: 50ad91851c2c5a2df9b92def40d01a7b (MD5)
  Previous issue date: 2009-06-16
000051184 982__ $$gCornell University>Department of Applied Economics and Management>Working Papers
000051184 980__ $$a642