کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9741211 | 1489451 | 2005 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Modelling the information content in insider trades in the Singapore exchange
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موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
کنترل و سیستم های مهندسی
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چکیده انگلیسی
Over the past decade, numerous studies have debated the usefulness of insider trading. One particularly important study relates to the informational role that insiders' transaction volumes have on trading activity in the equity market. In our paper, we examine whether insiders' purchases (sales) indicate positive (negative) earnings announcements. We argue that if insiders have early access to publicly announced information, then the issuance of good (bad) news should be preceded by insider buying (selling) activities. The results reveal that insiders' trading volume play an important role in the dissemination of private information to the investing public. In particular, insiders' purchases (sales) are found to be a good indication of good (bad) news. The information content in insiders' trades may be exploited, provided investors are able to realize returns within one, and at most two months, after the announcement date.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Mathematics and Computers in Simulation - Volume 68, Issues 5â6, 26 May 2005, Pages 417-428
Journal: Mathematics and Computers in Simulation - Volume 68, Issues 5â6, 26 May 2005, Pages 417-428
نویسندگان
Wong Kie Ann, John M. Sequeira, Michael McAleer,