search query: @author Liu, F.-Y. / total: 2
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| Author: | Kaestner, R. Liu, F.-Y. |
| Title: | Going private restructuring : the role of insider trading |
| Journal: | Journal of Business Finance and Accounting
1996 : JUL, VOL. 23:5&6, p. 779-806. |
| Index terms: | CORPORATE RESTRUCTURING PRIVATE COMPANIES PRIVATIZATION INSIDER TRADING MANAGEMENT BUY-OUTS |
| Language: | eng |
| Abstract: | This paper examines insider trading patterns prior to going private announcements in order to test the relevance of three competing explanations for the information content of going private transactions. A variety of methods is used to examine insider trading, including Poisson and Tobit regression models. The results indicate that insider trading displays an abnormal net-buying pattern for a sample of firms that were taken private by management. The net-buying pattern is more evident when insider trading is measured by the number of transactions, and less evident when measured by the share volume of insider trading. |
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