This study develops a dynamic model of bidding behaviour to investigate the Czech voucher privatization process, which took place in two waves of bidding rounds, the first in 1992 and the second in 1994. It examines the voucher mechanism from the standpoint of investors and the pricing and...

Political insider trading has brought substantial attention to ethical considerations in the academic literature. While the Stop Trading on Congressional Knowledge (STOCK) Act prohibits members of Congress and their staff from leveraging non-public information to make investment decisions,...