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| Author: | Gombola, M. Lee, H. W. Liu, F-Y. |
| Title: | Evidence of selling by managers after seasoned equity offering announcements |
| Journal: | Financial Management
1997 : AUTUMN, VOL. 26:3, p. 37-53 |
| Index terms: | SELLING INSIDER TRADING STOCK MARKETS |
| Language: | eng |
| Abstract: | This study examines insider trading following the announcement of a seasoned equity offering (SEO). The study documents concentrated net selling by managers in the month immediately following the announcement of seasoned equity offerings, together with continued substantial net selling for several additional months. Insiders may delay a significant amount of trading to avoid legal and market penalties. Abnormal insider net selling is evident both before and after passage of the Insider Trading Sanctions Act. |
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