Insider trading and the social contract

Article Abstract:

Two philosophies, expansive and constricted have been adopted at different times by the United States Supreme Court(S.C.) to decide the legality of insider trading. Expansive theory, used in Securities and Exchange Commission v. Texas Gulf Sulphur (1969) case, forbids outsiders trading inside information. In Chiarella V. United States (1980), the S.C. followed the constricted approach which prohibits outsiders from trading on nonpublic information only if it breaches fiduciary duty. Constrictive approach does not serve the needs of society as it confers unequal and exploitative advantage in the hands of few.

Business ethics, Insider trading in securities, Insider trading (Securities)

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Social contracting as a trust-building process of network governance

Article Abstract:

Network is as an ideal type of organisation which is based on mutual trust and cooperation and not on hierarchical authority or market transactions as in Weberian bureaucracy. Nohoria and Eccles defined it as a 'structure of ties among the actors of a social system'. Network governing process is the best way to understand and apply social contracting in an organisational setting. Social contracting within networks means building an interactive, efficient, effective and development oriented organisation.

Research, Corporate culture, Organizational change, Organizational research, Organizational behavior

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