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| Author: | Pettit, R. Venkatesh, P. |
| Title: | Insider trading and long-run return performance |
| Journal: | Financial Management
1995 : SUMMER, VOL. 24:2, p. 88-103 |
| Index terms: | FINANCIAL MANAGEMENT INSIDER TRADING MANAGEMENT |
| Language: | eng |
| Abstract: | This paper investigates the elation between security performance and the propensity for trading by "manager" insiders. The primary empirical model focuses on whether individual firms' abnormal standardized levels of insider purhcases and sales are related to past, current, and future security performance. To overcome the inherent problem of identifying insider activity in proximity to material events, when insiders may face significant costs of detection on some types of transactions, this study considers firm performance over long-run (3-year) intervals. |
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