This part sets out to explore the professional privilege of reporters and how its application affects the efficient provision of information to the capital market. The reporter’s privilege is often discussed in the context of information leaks about governmental and political actors. In these discussions it is hard to quantify the social welfare impact of the information provided as a result of unauthorized leaks. Leaks from within corporations, however, have an effect on the price of corporate stock. This effect can be measured. Therefore, the following analysis is directed primarily at leaks that emanate from inside a corporation and have an impact on the value of the corporation in the eyes of the capital market480.
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