Download or read book Aggregate Insider Trading and Market Returns written by Francois Brochet and published by . This book was released on 2018 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of countries that require timely disclosures of insider trades, I investigate the effect of country-level institutions that promote transparency on the extent to which aggregate insider trades predict market returns. I find that financial information transparency mitigates the predictive content of aggregate insider trades when markets are more likely to deviate from fundamentals (i.e., during market fads), and when there is greater co-movement in stock prices. In contrast, there is some evidence that governance and investor protection mitigate the association between aggregate insider trades and future earnings surprises. Hence, holding constant the timely disclosures of insider trades, other capital market institutions play complementary roles in mitigating the informational frictions that give rise to the predictive content of aggregate insider trades.
Download or read book Aggregate Insider Trading and the Predictability of Market Returns written by Xiaoquan Jiang and published by . This book was released on 2007 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We decompose realized market returns into expected return, unexpected cash flow news and unexpected discount rate news to test the relation between aggregate market returns and aggregate insider trading. Our motivation is to distinguish whether the observed relation between market returns and insider trading is due to contrarian strategy or managerial timing. We find that (1) the predictive ability of aggregate insider trading is much stronger than what was reported in earlier studies (2) aggregate insider trading is strongly related to unexpected cash-flow news and (3) market expectations do not cause insider trading, contrary to what others have documented. These results strongly suggest that the predictive ability of aggregate insider trading is because of managerial timing rather than contrarian strategy. These results hold even after we control for information uncertainty by using firm size as proxies.
Download or read book Why Does Aggregate Insider Trading Predict Future Stock Returns written by Hasan Nejat Seyhun and published by . This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book the january effect and aggregate insider trading written by h. nejat seyhun and published by . This book was released on 1987 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Intelligence from Insider Trading written by H. Nejat Seyhun and published by MIT Press. This book was released on 2000-02-28 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to profit from information about insider trading. The term insider trading refers to the stock transactions of the officers, directors, and large shareholders of a firm. Many investors believe that corporate insiders, informed about their firms' prospects, buy and sell their own firm's stock at favorable times, reaping significant profits. Given the extra costs and risks of an active trading strategy, the key question for stock market investors is whether the publicly available insider-trading information can help them to outperform a simple passive index fund. Basing his insights on an exhaustive data set that captures information on all reported insider trading in all publicly held firms over the past twenty-one years—over one million transactions!—H. Nejat Seyhun shows how investors can use insider information to their advantage. He documents the magnitude and duration of the stock price movements following insider trading, determinants of insiders' profits, and the risks associated with imitating insider trading. He looks at the likely performance of individual firms and of the overall stock market, and compares the value of what one can learn from insider trading with commonly used measures of value such as price-earnings ratio, book-to-market ratio, and dividend yield.
Download or read book Private Information Market Efficiency and Insider Trading written by Thomas John George and published by . This book was released on 1991 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book THE INFORMATION CONTENT OF INSIDE TRADING WORKING PAPER 454 written by H. NEJAT SEYHUN and published by . This book was released on 1986 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market Forecasting Characteristics of Aggregate Insider Trading written by Hasan Nejat Seyhun and published by . This book was released on 1986 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insider Trading and Market Returns written by Shannon P. Pratt and published by . This book was released on 1968 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insider Trading written by Paul U. Ali and published by CRC Press. This book was released on 2008-08-22 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insider trading has long been considered an endemic feature of the world's financial markets. It is unsurprising that the recent growth in mergers and acquisitions worldwide has been accompanied by a growth in insider trading, on a scale not witnessed since the 1980's takeovers boom. Insider Trading: Global Developments and Analysis brings together the latest law and finance research on insider trading. It provides expert coverage on the established US, European, and Asia-Pacific securities markets, as well as the key emerging markets of Brazil and the greater China region. Providing high interest and up-to-date content, the book features several recent cases, including that of Martha Stewart.
Download or read book private information market efficiency and insider trading a rational expectations approach written by thomas j. george and h. ncjat scyhun and published by . This book was released on 1991 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aggregate Insider Trading and Stock Market Volatility in the UK written by Guglielmo Maria Caporale and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between aggregate insider trading (AIT) and stock market volatility using monthly data on insider transactions by UK executives in public limited companies for the period January 2002 - December 2020. More specifically, a Vector Autoregression (VAR) model is estimated and Impulse Response analysis as well as Forecast Error Variance Decomposition are carried out. The main finding is that higher AIT (more specifically, insider purchases) leads to a short-run increase in stock market volatility; this can be attributed to a combination of insiders manipulating the timing and content of the information they release and the revelation of new economy-wide information to the market. The UK being a well-regulated market, it is plausible that the main driver of the increase in stock market volatility should be the information effect. These results are shown to be robust to using alternative (direct) measures of AIT.
Download or read book The Insider s Dossier written by Andrew Packer and published by Humanix Books. This book was released on 2014-04-22 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Insider’s Dossier will seamlessly guide you through investing alongside the most in-the-know professionals, debunking the widespread myth that insider trading is illegal. Not only is it legal when following proper protocol, but author Andrew Packer helps you to decode the Wall Street lingo, so that even the novice could easily follow corporate insiders for returns that significantly outperform the market year over year. In easy-tounderstand terms, Packer describes: • The difference between legal and illegal insider trading • How to evaluate insider activity in order to optimize your investment advantage • The key to swiftly decoding SEC filing forms for up-to-the-minute insider activity • Understanding and utilizing web-based, technical analysis tools • How to separate key insiders from the average corporate investor • Investing beyond simple trades, clearly and concisely explaining the ins and outs of options trading, and much more. . . About
Download or read book Aggregate Insider Trading and Its Information Content for Sector Selection in the United States written by Christian Senn and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aggregate Insider Trading Activity in the UK Stock and Option Markets written by Clarisse Pangyat Wuttidma and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Insider Transactions on the Risk and Return Characteristics of Common Stocks written by Allen Brann Atkins and published by . This book was released on 1988 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Resolution of Financial Distress and Aggregate Insider Trading written by Tingching Yur and published by . This book was released on 1995 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
