Cheng, Louis T. W.; Szeto, Ricky W. F.; Leung, T. Y. - In: Review of Pacific Basin Financial Markets and Policies … 08 (2005) 02, pp. 279-307
We employ a sample of 3,177 events from Hong Kong industrial firms during the 1993–1999 period to examine insider trading activities around earnings and dividends announcements. By controlling for earnings management, special dividends, and other firm level financial indicators, we find that...