haku: @indexterm Insider trading / yhteensä: 155
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| Tekijä: | Kallunki, J-P. Nilsson, H. Hellström, J. |
| Otsikko: | Why do insiders trade? Evidence based on unique data on Swedish insiders |
| Lehti: | Journal of Accounting & Economics
2009 : OCT, VOL. 48:1, p. 37-53 |
| Asiasana: | insider trading stock markets earnings Sweden wealth |
| Kieli: | eng |
| Tiivistelmä: | The study investigates if corporate insiders have other motives for trading besides exploitation of private information. The results reveal that insiders' portfolio rebalancing objectives, tax considerations and behavioral biases have the most important role in their trading decisions. It is also found that insiders who have allocated a great proportion of their wealth to insider stock sell more before bad news earnings diclosures and vice versa. To conclude, insider selling is informative for future returns among those insiders who have the greatest proportion of wealth allocated to insider stocks. |
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