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| Author: | Aboody, D. Lev, B. |
| Title: | Information asymmetry, R&D, and insider gains |
| Journal: | Journal of Finance
2000 : DEC, VOL. 55:6, p. 2747-2766 |
| Index terms: | R&D Insider trading |
| Language: | eng |
| Abstract: | The authors focus on research and development (R&D) - an increasingly important yet poorly disclosed productive input as a potential source of insider gains. The findings indicate that insider gains in R&D-intensive firms are substantially larger than insider gains in firms without R&D. R&D is a major contributor to information asymmetry and insider gains, raising issues concerning management compensation, incentives, and disclosure policies. |
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