Forensic Finance: Market Abuse and Price Manipulation in Security Markets on the Trail
Journal Title: The Review of Finance and Banking - Year 2014, Vol 6, Issue 2
Abstract
On 19th March 2009, national newspapers in Austria reported on a “turbo scandal” that had been suspected on the Vienna Stock Exchange. Concerned investors argued that the issuers of turbo certificates tried to raid the underlying prices of these down-and-out call options by pushing down the prices of the underlings below the barriers of the derivatives. The goal of this research is to find out which variables are crucial for the research, which stocks were manipulated and who their manipulators were. According to our empirical results, we define suspicious issuers for each stock and classify them as being highly, moderately, less suspicious or rather unsuspicious issuers.
Authors and Affiliations
Marija Corluka, Edwin Fischer
Keywords
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