Insider trading in the credit derivatives market has become a significant concern for
regulators and participants. This paper attempts to quantify the problem. Using news …

Using a comprehensive sample of trades from Schedule 13D filings by activist investors, we
study how measures of adverse selection respond to informed trading. We find that on days …

Organizations today outsource diverse business processes to achieve a wide variety of
business objectives ranging from reduction of costs to innovation and business …

This study examines whether managers strategically alter disclosure “quality” in response to
personal incentives, specifically those derived from trading on their own account. Using …

The purpose of this paper is to provide a systematic empirical comparison of the different
proxy variables used to measure information asymmetry. We construct different information …

Does legal insider trading contribute to market efficiency? Using refinements proposed in
the recent microstructure literature, we analyzed the information content of legal insider …

The purpose of the current study was to investigate the impact of information asymmetry on
firm value in the restaurant industry. Secondary financial data were collected for US-based …

This paper analyzes the academic and regulatory studies on insider trading available in the
finance literature. First, a review of the laws regulating insider trading is provided. The paper …

Foreign ownership has two competing effects on information asymmetry. Short term
investment horizon, superior information processing capability, controlling positions, and …

This paper examines the degree of anonymity—the extent to which a trader is recognized as
informed—on alternative market structures. We find evidence that is consistent with less …