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The analysis of insider trading under incomplete information
Author(s): 
Pages: 52-56
Year: Issue:  2
Journal: Journal of Guizhou Normal University(Natural Sciences)

Keyword:  insider tradingincomplete informationsignal of value;
Abstract: 在真实的金融市场中,内部交易者往往不能准确预知风险资产价值,而观测到关于风险资产价值的一个信号.本文应用正交化技巧,对交易价格信息进行分离,研究了两期不完全信息下的内部交易.研究表明,信号扭曲因素显著影响了市场流动性、市场深度、内部交易者期望利润以及信息的释放量.
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