| 1. |
- Hellström, Jörgen, 1970-, et al.
(författare)
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Does the open limit order book reveal information about short-run stock price movements?
- 2006
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Ingår i: Umeå economic studies. - Umeå : Department of Economics, Umeå University. - 1403-4824. ; :687
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Tidskriftsartikel (refereegranskat)abstract
- This paper empirically tests whether an open limit order book contains informationabout future short-run stock price movements. To account for the discrete natureof price changes, the integer-valued autoregressive model of order one is utilized. Amodel transformation has an advantage over conventional count data approachessince it handles negative integer-valued price changes. The empirical results revealthat measures capturing offered quantities of a share at the best bid- and ask-pricereveal more information about future short-run price movements than measurescapturing the quantities offered at prices below and above. Imbalance and changesin offered quantities at prices below and above the best bid- and ask-price do,however, have a small and significant effect on future price changes. The resultsalso indicate that the value of order book information is short-term.
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| 2. |
- Kallunki, Juha-Pecka, et al.
(författare)
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Why do insiders trade? : Evidence based on unique data on Swedish insiders
- 2009
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Ingår i: Journal of Accounting & Economics. - : Elsevier. - 0165-4101 .- 1879-1980. ; 48:1, s. 37-53
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Tidskriftsartikel (refereegranskat)abstract
- In this paper, we examine if corporate insiders have other motives for trading besides exploitation of private information. Our results show that insiders’ portfolio re- balancing objectives, tax considerations and behavioral biases play the most important role in their trading decisions. We also find that insiders who have allocated a great (small) proportion of their wealth to insider stock sell more (less) before bad news earnings disclosures. Finally, insider selling is informative for future returns among those insiders who have the greatest proportion of wealth allocated to insider stocks.
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| 3. |
- Åberg, N David, 1970, et al.
(författare)
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Peripheral infusion of insulin-like growth factor-I increases the number of newborn oligodendrocytes in the cerebral cortex of adult hypophysectomized rats.
- 2007
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Ingår i: Endocrinology. - : The Endocrine Society. - 0013-7227 .- 1945-7170. ; 148:8, s. 3765-72
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Tidskriftsartikel (refereegranskat)abstract
- We have previously shown that recombinant human (rh) IGF-I induces cell proliferation and neurogenesis in the hippocampus of hypophysectomized rats. In the current investigation, we determined the effects of rhIGF-I on proliferation and differentiation in the cerebral cortex. Adult hypophysectomized rats were injected with bromodeoxyuridine (BrdU) to label newborn cells (once a day for the first 5 d), and rhIGF-I was administered peripherally for 6 or 20 d. In the cerebral cortex, the number of BrdU-labeled cells increased after 20 d but not after 6 d of rhIGF-I infusion. This suggests that rhIGF-I enhances the survival of newborn cells in the cerebral cortex. Using BrdU labeling combined with the oligodendrocyte-specific markers myelin basic protein and 2',3'-cyclic nucleotide 3'-phosphodiesterase, we demonstrated an increase in oligodendrogenesis in the cerebral cortex. The total amount of myelin basic protein and 2',3'-cyclic nucleotide 3'-phosphodiesterase was also increased on Western blots of homogenates of the cerebral cortex, confirming the immunohistochemical findings. Also, we observed an increase in the number of capillary-associated BrdU-positive cells, although total capillary area was not increased. rhIGF-I treatment did not affect cortical astrogliogenesis and neurogenesis was not observed. The ability of rhIGF-I to induce cortical oligodendrogenesis may have implications for the regenerative potential of the cortex.
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