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This book explains both financial markets and securities regulation in simple yet sophisticated terms.
List of contents
Foreword Richard Posner; 1. Introduction. Real markets and financial markets; Part I. Definition of a Security: When to Leave Buyer Beware for Seller Disclose?: 2. Toward defining a security; 3. The vacuous definition of a security; 4. The function of investment contract; 5. Pricing mechanisms; 6. From the sale of business doctrine to Gustafson; 7. Gustafson works!; 8. Definition conclusion; Part II. Disclosure: Why Subsidize Informed Traders?: 9. Introduction; 10. An overview of disclosure theories; 11. The failure of the corporate disclosure decision; Part III. Deterrence of Securities Fraud: 12. Introduction to deterrence intensity; 13. Comparing the economic function of deceit to that of securities fraud; 14. Reliance in deceit and securities fraud; 15. Conclusion of deterrence intensity; Part IV. Insider Trading: 16. Introduction to insider trading; 17. Insider trading law; 18. Defining insiders; 19. Concluding the insider trading analysis; Part V. The Virtuous Cycle of Liquid Markets, Accurate Prices and Cheap Trading: 20. The virtuous cycle; 21. Closing note: financial crises and securities law.
About the author
Nicholas L. Georgakopoulos is the H. R. Woodard Professor of Law at the Robert H. McKinney School of Law, Indiana University. He has extensively researched and published on securities law and related fields. His previous publications include Principles and Methods of Law and Economics (Cambridge, 2005), and a co-authored five-volume treatise Blumberg on Corporate Groups.
Summary
Finance is alien to our daily experience and its regulation is incomprehensible. This book reveals the world of finance and shows the engine of its regulation with simplicity, examining securities law in great detail.
