Prior literature which examines the use of derivatives by investment managers does not discern between different types of derivative trading strategies. This study is the first to examine and gather data on a particular type of derivative trading strategy undertaken by investment managers. We...

We develop a model of the choice of trade size by an illegal insider. The model recognises that insiders respond to both the expected gains and costs associated with their crime, and choose a trade size which maximises the expected utility of wealth associated with the trade. The model predicts...