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Why do insiders tra...
Why do insiders trade? : Evidence based on unique data on Swedish insiders
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- Kallunki, Juha-Pecka (författare)
- Department of Accounting and Finance, University of Oulu, Oulu, Finland,University of Oulu (FI)
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- Nilsson, Henrik, 1971- (författare)
- Stockholm School of Economics,Handelshögskolan i Stockholm,Umeå universitet,Handelshögskolan vid Umeå universitet (USBE)
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- Hellström, Jörgen, 1970- (författare)
- Umeå universitet,Institutionen för nationalekonomi
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(creator_code:org_t)
- Elsevier, 2009
- 2009
- Engelska.
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Ingår i: Journal of Accounting & Economics. - : Elsevier. - 0165-4101 .- 1879-1980. ; 48:1, s. 37-53
- Relaterad länk:
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https://urn.kb.se/re...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- 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.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Insider trading
- Behavioral finance
- Stock market
- Business studies
- Företagsekonomi
- Economics
- Nationalekonomi
- nationalekonomi
- Economics
- företagsekonomi
- Business Studies
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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