Insider Trading before New Issue Announcements Export

@article{citeulike:4024216, abstract = {On average, insiders are net sellers of their firms' common stock for several months before announcements of new common stock and convertible debt issues. There is no evidence of abnormal insider trading before announcements of straight debt issues. These results suggest that the prospect of legal and market penalties does not deter a significant amount of insider trading before new issue announcements, and are consistent with the hypothesis that managers have superior information that is conveyed to the market through new equity issues.}, author = {Karpoff, Jonathan M. and Lee, Daniel}, citeulike-article-id = {4024216}, citeulike-linkout-0 = {http://dx.doi.org/10.2307/3666093}, citeulike-linkout-1 = {http://www.jstor.org/stable/3666093}, doi = {10.2307/3666093}, issn = {00463892}, journal = {Financial Management}, keywords = {insider-trading, insider-trading-empirical, insider-trading-legal}, number = {1}, pages = {18--26}, posted-at = {2009-02-09 04:22:42}, priority = {2}, publisher = {Blackwell Publishing on behalf of the Financial Management Association International}, title = {Insider Trading before New Issue Announcements}, url = {http://dx.doi.org/10.2307/3666093}, volume = {20}, year = {1991} }

TY - JOUR ID - citeulike:4024216 L3 - citeulike-article-id:4024216 N2 - On average, insiders are net sellers of their firms' common stock for several months before announcements of new common stock and convertible debt issues. There is no evidence of abnormal insider trading before announcements of straight debt issues. These results suggest that the prospect of legal and market penalties does not deter a significant amount of insider trading before new issue announcements, and are consistent with the hypothesis that managers have superior information that is conveyed to the market through new equity issues. IS - 1 JF - Financial Management SN - 00463892 EP - 26 TI - Insider Trading before New Issue Announcements PB - Blackwell Publishing on behalf of the Financial Management Association International VL - 20 SP - 18 KW - insider-trading KW - insider-trading-empirical KW - insider-trading-legal AU - Karpoff, Jonathan AU - Lee, Daniel PY - 1991/// UR - http://dx.doi.org/10.2307/3666093 ER -