Arturo Bris (2005). Do Insider Trading Laws Work?

Finance research paper presentation slides. This presentation summarizes the study Do Insider Trading Laws Work? by Arturo Bris (2005). Slides cover main questions (effectiveness of insider trading laws, cross-country enforcement variation), motivation (insider trading remains widespread despite legal prohibitions, based on economics of crime theory), data description (4,541 M&A deals across 52 countries, 1990–1999), methodology (stock price and volume analysis, abnormal returns, cross-sectional regressions, IT law enforcement quality index), main findings (insider trading persists, profits for insiders increase with enforcement, tougher laws reduce profits but skilled insiders may still exploit markets), and overall conclusions. Designed for students who need ready-to-use, detailed analysis with graphs, tables, and discussion points.