We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European real estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property),...

Among the reactions to recent corporate scandals are calls for greater transparency of insiders' trades. The Securities and Exchange Commission's recent rule on fair disclosure is accompanied by a safe harbor from prosecution under insider trading laws for insiders who pre-commit to trades. A...

Like Cournot competitors in product markets, financial market insiders with common private information trade more aggressively than a monopolist with the same information, and thereby dissipate expected profits. Where the same insiders repeatedly receive private information, they may tacitly...