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Greener pastures su...
Greener pastures substitute trading in blackout periods
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- Bång, Joakim (författare)
- Stockholm School of Economics,Handelshögskolan i Stockholm
-
(creator_code:org_t)
- 2011
- Engelska.
- Relaterad länk:
-
https://research.hhs...
Abstract
Ämnesord
Stäng
- Using new UK legislation that imposes mandatory trading bans prior to company reports, I test the hypothesis that insiders will respond to such bans by trading in correlated stocks for which they are not classified as insiders. I fail to replicate the results from the existing literature on voluntary trading bans and find an ambiguous effect of the new legislation on bid-ask spreads. Furthermore, I find no evidence for substantial stock substitute trading. Possible reasons for the differences between my findings and the existing literature is discussed, and I conclude that previously found effects of insider blackout periods on bid-ask spreads are likely to be overstated.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Publikations- och innehållstyp
- ovr (ämneskategori)
- vet (ämneskategori)