Laura Nyantung Beny, PhD, JD - Insider Trading by Congress - ProCon.org

UNDERSTAND THE ISSUES.
UNDERSTAND EACH OTHER.

INSIDER TRADING BY CONGRESS

Laura Nyantung Beny, PhD, JD Biography
Title:	Professor of Law at the University of Michigan
Position:	Not Clearly Pro or Con to the question "Should Insider Trading by Congress Be Allowed?"
Reasoning:	"...[T]o the extent that insider trading regulation promotes more accurate stock prices and greater stock market liquidity, regulation might indirectly ameliorate corporate agency problems, as more accurate stock prices and greater liquidity facilitate improved corporate governance and the market for corporate control..." "Insider Trading Laws and Stock Markets Around the World: An Empirical Contribution to the Theoretical Law and Economics Debate," Journal of Corporation Law, Winter 2007
Theoretical Expertise Ranking:	Experts Individuals with JDs, PhDs, or equivalent advanced degrees in fields relevant to insider trading issues. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to insider trading issues.
Involvement and Affiliations:	Professor, Law, University of Michigan National Fellow, Hoover Institution, Stanford University, 2005 - 2006 Research Fellow, William Davidson Institute, Stephen M. Ross School of Business, University of Michigan, Oct. 2004 - Oct. 2007 Black Law Students' Alliance Faculty Member of the Year, 2004 - 2005 John M. Olin Fellow in Law and Economics, Harvard Law School, 1997 - 2001 John M. Olin Prize for Outstanding Paper in Law and Economics, Harvard Law School, 1999 Harvard Prize Fellowship, 1994 National Science Foundation Fellowship, 1994 John G. Sobieski Award for outstanding senior thesis, "Market-Based Approaches to African Wildlife Conservation," Stanford University, 1990 Provided testimony, "Evidence on Insider Trading Laws and Stock Markets," presented to the US Senate Judiciary Committee Hearing on Unlawful Insider Trading, Sep. 26, 2006
Education:	PhD, Economics, Harvard University, 2002 JD, Harvard Law School, 1999 MA, Economics, Harvard University, 1994 BA, with distinction, Economics, Stanford University, 1990
Contact Info:	Phone: 734-277-7063 Fax: 734-764-8309 Email: [email protected] Website: University Profile
Select Publications:	"The Empirical Evidence on the Regulation of Insider Trading," Annual Review of Law and Social Science, Forthcoming Dec. 2008 "Do Investors in Controlled Firms Value Insider Trading Laws? International Evidence," The article was published and presented as part of the Journal of Law, Economics, & Policy Symposium on Insider Trading, 2008 (also selected by Professor Mark Roe to be presented at March 2007 Enforcement of Corporate Governance Rules Conference) "Insider Trading Laws and Stock Markets around the World: An Empirical Contribution to the Theoretical Law and Economics Debate," Journal of Corporation Law, Winter 2007 "Insider Trading Rules Can Affect Attractiveness of Countries Stock Markets," University of Michigan Law Quadrangle Notes, Fall 2007 (Beny wrote this report about her Sep. 2006 written testimony to the US Senate Judiciary Committee)
Other:	None found
Quoted in:	1. Does insider trading contribute to market efficiency?