The Lacuna Project

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Exhibit 768

'Trading' Political Favors: Evidence from the Impact of the STOCK Act (working paper)

Exhibit 768 ยท Research paper (not peer reviewed)

'Trading' Political Favors: Evidence from the Impact of the STOCK Act (working paper)

After the passage of the Act, politicians exhibit no such informational advantage in trading or outperformance.

Uses the STOCK Act's passage as an experiment on 2010-2013 holdings and trades. Finds abnormal returns before the Act and none after.

Source
Huang and Xuan, SMU and UC Irvine
Date
2018 working paper
Quoted from
Abstract
Grade
Primary record
Document
https://business.gwu.edu/sites/g/files/zaxdzs5326/files/HuangXuan_STOCKAct.pdf
Accessed
2026-11-09
Cited by
Findings citing this exhibit
Note
Working-paper version; locate any published version and update.

Cited by

Finding POL-4.9
Peer-reviewed Karadas (2019) and Hall, Karadas and Schlosky (2017) found abnormal returns in members' trades in 2004-2010 concentrated among powerful members, and Karadas and Huang and Xuan (2018, a working paper on 2010-2013) found them absent after the 2012 Act.