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題名:內線交易規範之理論基礎--法律與經濟之分析
書刊名:銘傳學刊
作者:武永生
出版日期:1993
卷期:4
頁次:頁5-45
主題關鍵詞:內部資訊內部資訊財產權證券市場內線交易分析法律規範經濟
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(6) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:2
  • 共同引用共同引用:0
  • 點閱點閱:91
     本文說明了內線交易問題的焦點及其發生的原因,乃在於證券市場生態環境中,各群體間競相追逐具有極高財產價值的公司內部消息所致,內線交易法規範 如欲解決問題,即應該針對這一焦點-證券市場不同群組之間,對於公司內部消息的競爭-作一合理的規範。而不應被誤導於「內部人」、「準內部人」、「外部人」、甚至於「受託忠誠義務」…等支離片所法律概念的迷陣中。事實上,如果認清整個內線交易法規範的重心,在於對公司內部消息中所含蘊財產價值權益之歸屬、分配、與移轉…等問題,依據現行法律體制內保障私有財產權之既之有法律原則,即可以圓滿地解決問題。 本文之重點在於強調:存在於內部資訊中財產權之分配問題,方是整個內線交易規範的重心。因此,依據該等定義認為一方當事人,因為有了他方所沒有之接觸內線資訊的機會,所從事的交易即應該予以禁止的結論,事實上是要指陳:該人對於該交易所依據的內線資訊,並未具有正當的財產權源而已。亦即本文在針對以公平性作為規範內線交易理論基礎所有可能內涵為一仔細之探救之道應該朝著確認並清楚界定內線資訊所含蘊之財產權,以及這種財產權應該作何種合理分配的方向努力。換言之,本文認為關於內線交易之法律規範,應該以資訊財產權為中心之理論作為規範之基礎。
期刊論文
1.Fischel, Daniel(1984)。Insider Trading and Investment Analysts: An Economic Analysis of Dirks v. Securities and Exchange Commission。Hofstra Law Review,13,127-146。  new window
2.余雪明(19890400)。內部人交易管理的新發展。證券管理,7(4),2-13。  延伸查詢new window
3.Macey, Jonathan R.(1986)。Promoting Public-Regarding Legislation through Statutory Interpretation: An Interest Group Model。Colum. L. Rev.,86,223。  new window
4.Carlton, Dennis W.、Fischel, Daniel R.(1983)。The regulation of insider trading。Stanford Law Review,35(5),857-895。  new window
5.Finnerty, Joseph E.(1976)。Insiders and Market Efficiency。Journal of Finance,31,1141-1148。  new window
6.Gilson, Ronald J.、Kraakman, Reinier H.(1984)。The mechanisms of market efficiency。Virginia Law Review,70(4),549-644。  new window
7.Haft, Robert J.(1982)。The Effect of Insider Trading Rules on the Internal Efficiency of the Large Corporation。Michigan Law Review,80(5),1051-1071。  new window
8.ABA(1985)。Report Of The Task Force On Regulation Of Insider Trading, Part I: Regulation Under The Antifraud Provisions Of The Securities Exchange Act Of 1934。Business Lawyer,41,223-272。  new window
9.Bainbridge, Stephen M.(1986)。The Insider Trading Prohibition: A Legal and Economic Enigma。University Florida Law Review,38,35-68。  new window
10.Barry, John F. III(1981)。The Economics of Outside Information and Rule 10b-5。University of Pennsylvania Law Review,129(6),1307-1391。  new window
11.Cox, C. C.、Fogarty, K. S.(1988)。Bases of Insider Trading Law。Ohio State Law Journal,49(2),353-372。  new window
12.Carney, William J.(1987)。Signalling and Causation in Insider Trading。Catholic University Law Review,36,863-898。  new window
13.Brudney, Victor(1979)。Insiders, Outsiders, and Informational Advantages under the Federal Securities Laws。Harvard Law Review,93(2),322-376。  new window
14.Beck-Dudley, Caryn L.、Stephens, Alan A.(1989)。The Efficient Market Theory and Insider Trading: Are We Headed In The Right Direction?。American Business Law Journal,27,441-465。  new window
15.Easterbrook, Frank H.(1981)。Insider Trading, Secret Agents, Evidentiary Privileges, and the Production of Information。Supreme Court Review,1981,309-365。  new window
16.Dooley, Michael(1980)。Enforcement of Insider Trading Restrictions。Virginia Law Review,66,1-83。  new window
17.Cox, James D.(1987)。Insider Trading Regulation And The Production Of Information: Theory And Evidence。Securities Law Review,19,81-111。  new window
18.Karjala, D. S.(1982)。Statutory Regulation Of Insider Trading In Impersonal Markets。Duke Law Journal,1982,627-649。  new window
19.Jarrell, Gregg A.、Poulsen, Annette B.(1989)。Stock Trading Before The Announcement Of Tender Offer: Insider Trading Or Market Anticipation。Journal of Law, Economics, and Organization,5,225-248。  new window
20.Haddock, David、Macey, Jonathan(1987)。Regulation on Demand: A Private Interest Model, With an Application to Insider Trading Regulation。Journal of Law And Economics,30,311。  new window
21.Haddock, David、Macey, Jonathan(1986)。A Coasian Model of Insider Trading。Northwestern Law Review,80,1449-1472。  new window
22.Langevoort, Donald C.(1988)。Setting the Agenda for Legislative Reform: Some Fallacies, Anomalies, and Other Curiosities in the Prevailing Law of Insider Trading。Alabama Law Review,39,399-414。  new window
23.Kripke, Homer(1985)。Marine's Insider Trading Thesis and Other Failures of Conservative Economics。Cato Journal,4,945-957。  new window
24.Kripke, Homer(1988)。A Note on Insider Trading: An Example of How Not To Make Law。Alabama Law Review,39,349-354。  new window
25.Levmore, Saul(1982)。Securities and Secrets: Insider Trading and the Law of Contracts。Virginia Law Review,68(1),117-160。  new window
26.Kelly, William A.、Nardinelli, Clark、Wallace, Myles S.(1987)。Regulation of Insider Trading: Rethinking Sec Policy Rules。Cato,7,441-448。  new window
27.Macey, Jonathan R.(1988)。Ethics, Economics, and Insider Trading: Ayn Rand Meets The Theory of The Firm。Harvard Journal Of Law And Public Policy,11,785-804。  new window
28.Macey, Jonathan R.(1984)。From Fairness to Contract: The New Direction of The Rules Against Insider Trading。Hofstra Law Review,13,9-64。  new window
29.Levmore, Saul(1989)。In Defense Of The Regulation Of Insider Trading。Harvard Journal of Law and Public Policy,11,101-109。  new window
30.Levmore, Saul(1984)。Efficient Markets and Puzzling Intermediaries。Virginia Law Review,70,645-667。  new window
31.O'Onnor, Marleen A.(1989)。Toward A More Efficient Deterrence Of Insider Trading: The Repeal Of Section 16(B)。Fordham Law Review,58(3),309-382。  new window
32.Manne, Henry(1985)。Insider Trading and Property Rights in New Information。Cato Journal,4,933-943。  new window
33.Manne, Henry G.(1970)。Insider Trading and the Law Professors。Vanderbilt Law Review,23,547-590。  new window
34.Manne, Henry G.(1966)。In Defense Of Insider Trading。Harvard Business Review,44(6),113-122。  new window
35.Macey, Jonathan R.、Haddock, David(1986)。A Coasian Model of Insider Trading。Northwestern Law Review,80,1449-1472。  new window
36.Wang, William K. S.(1987)。The "Contemporaneous" Traders Who Can Sue an Insider Trading。Hastings Law Journal,38,1175-1194。  new window
37.Wang, William K. S.(1981)。Trading On Material Nonpublic Information of Impersonal Stock Markets。South California Law Review,54,1217。  new window
38.Seyhun, Nejat H.(1986)。Insiders' Profits, Costs of Trading, And Market Efficiency。Journal of Financial Economics,16,189-212。  new window
39.Seligman, Joel(1985)。The Reformulation of Federal Securities Law Concerning Nonpublic Information。Georgetown Law Journal,73,1083-1140。  new window
40.Scott, Kenneth E.(1980)。Insider Trading: Rule 10b-5, Disclosure and Corporate Privacy。Journal Legal Study,9,801-818。  new window
41.Wu, Hsiu-Kwang(1968)。An Economist Looks At Section 16 of the Securities Exchange Act of 1934。Columbia Law Review,68(2),260-269。  new window
42.Winter, Ralph K. Jr.(1977)。State Law, Shareholder Protection, and the Theory of the Corporation。The Journal of Legal Studies,6(2),251-292。  new window
43.Wimberly, G. E. Jr.(1985)。Corporate Recovery Of Insider Trading Profits At Common Law。The Corporation Law Review,8,197-250。  new window
44.Wang, William K. S.(1983)。Recent Developments in the Federal Law Regulating Stock Market Insider Trading。The Corporation Law Review,6,291-328。  new window
45.Cox, James D.(1986)。Insider Trading and Contracting: A Critical Response to the "Chicago School"。Duke Law Journal,1986(4),628-659。  new window
圖書
1.Bloomenthal, Harold(1990)。Securities and Federal Corporate Law。  new window
2.Posner, Richard A.、Scott, Kenneth E.(1980)。Economics of Corporation Law and Securities Regulation。  new window
3.Choper, J. H.、Coffee, J. C.、Morsis, C. R.(1989)。Cases and Materials on Corporations。  new window
4.Easterbrook, Frank、Fischel, Daniel(1989)。The Economic Structure of Corporate Law。  new window
5.Loss, Louis(1988)。Fundamentals of Securities Regulation。  new window
6.Loss, Louis、Seligman, Joel(1991)。Securities Regulation。Little Brown Ltd.。  new window
7.Easterbrook, Frank、Fischel, Daniel R.(1990)。Trading On Inside Information。The University Of Chicago Law School。  new window
圖書論文
1.Easterbrook, Frank H.(1985)。Insider Trading As an Agency Problem。Principals and Agents: The Structure of Business。  new window
 
 
 
 
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