Recent SEC Prosecution and Insider Trading on Forthcoming Merger Announcements Export

@article{citeulike:3339094, abstract = {While trading on nonpublic information is illegal, the enforcement of this law has been elusive, particularly in the area of trading in advance of merger announcements. We examine the impact of insider trading on daily stock price changes for firms identified by the SEC in the Antoniu-Newman insider trading case. Using residual analysis, the abnormal returns occurring prior to the announcement are calculated and compared with a sample of 188 typical merger candidates not identified in the Antoniu-Newman case to determine whether or not there was an unusually large market reaction prior to the forthcoming merger announcement on the subset of merger candidates involved in the court procedure.}, author = {Keown, Arthur J. and Pinkerton, John M. and Young, Lewis and Hansen, Robert S.}, citeulike-article-id = {3339094}, journal = {Journal of Business Research}, keywords = {--, actions, compliance, consolidation, corporations, criminal, defenses, enforcement, insider-trading, law, legislation, merger, of, prices, procedure}, month = {August}, number = {4}, pages = {329--338}, posted-at = {2008-09-26 07:45:17}, priority = {2}, title = {Recent SEC Prosecution and Insider Trading on Forthcoming Merger Announcements}, volume = {13}, year = {1985} }

TY - JOUR ID - citeulike:3339094 L3 - citeulike-article-id:3339094 N2 - While trading on nonpublic information is illegal, the enforcement of this law has been elusive, particularly in the area of trading in advance of merger announcements. We examine the impact of insider trading on daily stock price changes for firms identified by the SEC in the Antoniu-Newman insider trading case. Using residual analysis, the abnormal returns occurring prior to the announcement are calculated and compared with a sample of 188 typical merger candidates not identified in the Antoniu-Newman case to determine whether or not there was an unusually large market reaction prior to the forthcoming merger announcement on the subset of merger candidates involved in the court procedure. IS - 4 JF - Journal of Business Research EP - 338 TI - Recent SEC Prosecution and Insider Trading on Forthcoming Merger Announcements VL - 13 SP - 329 KW - -- KW - actions KW - compliance KW - consolidation KW - corporations KW - criminal KW - defenses KW - enforcement KW - insider-trading KW - law KW - legislation KW - merger KW - of KW - prices KW - procedure AU - Keown, Arthur AU - Pinkerton, John AU - Young, Lewis AU - Hansen, Robert PY - 1985/08// ER -