Front-Running by Mutual Fund Managers : It Ain't That bad.

This paper evaluates the welfare implications of front-running by mutual fund managers. It extends the model of Kyle (1985) to a sitaution in which the insider with fundamentals-information competes against an insider with trade-information and in which noise trading is endogenized.

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Year of publication:	1996
Authors:	Danthine, J-P ; Moresi, S
Institutions:	Graduate School of Business, Columbia University
Subject:	INFORMATION \| FINANCIAL INSTITUTIONS

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Series:	Columbia - Graduate School of Business.
Type of publication:	Book / Working Paper
Notes:	32 pages
Classification:	G14 - Information and Market Efficiency; Event Studies ; G23 - Pension Funds; Other Private Financial Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005630994