Cardiff University | Prifysgol Caerdydd ORCA
Online Research @ Cardiff 
WelshClear Cookie - decide language by browser settings

Insider trading, news releases, and ownership concentration

Fidrmuc, J. P., Goergen, Marc and Renneboog, Luc 2006. Insider trading, news releases, and ownership concentration. The Journal of Finance 61 (6) , pp. 2931-2973. 10.1111/j.1540-6261.2006.01008.x

Full text not available from this repository.

Abstract

This paper investigates the market's reaction to U.K. insider transactions and analyzes whether the reaction depends on the firm's ownership. We present three major findings. First, differences in regulation between the U.K. and United States, in particular the speedier reporting of trades in the U.K., may explain the observed larger abnormal returns in the U.K. Second, ownership by directors and outside shareholders has an impact on the abnormal returns. Third, it is important to adjust for news released before directors' trades. In particular, trades preceded by news on mergers and acquisitions and CEO replacements contain significantly less information.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HG Finance
Publisher: Wiley-Blackwell
ISSN: 1540-6261
Last Modified: 04 Jun 2017 04:22
URI: http://orca.cf.ac.uk/id/eprint/37598

Citation Data

Cited 282 times in Google Scholar. View in Google Scholar

Cited 174 times in Scopus. View in Scopus. Powered By Scopus® Data

Actions (repository staff only)

Edit Item Edit Item