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| Author: | Carpenter, J.N. Remmers, B. |
| Title: | Executive stock option exercises and inside information |
| Journal: | Journal of Business
2001 : OCT, VOL. 74:4, p. 513-534 |
| Index terms: | EXECUTIVES INFORMATION INSIDER TRADING STOCK OPTIONS |
| Language: | eng |
| Abstract: | This article examines whether insiders use private information to time the exercises of their executive stock options. Before May 1991, insiders had to hold the stock acquired through option exercise for 6 months. Exercises from that regime precede significantly positive abnormal stock performance, suggesting the use of inside information to time exercises. By contrast, the authors find little evidence of such timing since insiders have been able to sell acquired shares immediately. |
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