Similar Search Results

Insider Trading and the Market Abuse Directive : Are Voluntary and Mandatory Takeover Bids Different?

Ferretti, Riccardo - 2019

trading during takeover bids. Exploiting the quasi-experimental setting provided by the introduction of the MAD, our event …

Persistent link: https://www.econbiz.de/10012861747

Short Sales, Informed Trading, and Merger Announcements

Blau, Benjamin M. - 2011

Research argues that short sellers are informed investors as current short selling relates inversely with future returns. However, empirical results have yet to determine whether short sellers trade on private information before, say, an upcoming negative new. This paper takes a step in this...

Persistent link: https://www.econbiz.de/10013133912

Takeover Bids and Insider Trading

Schouten, Michael C. - 2013

This paper analyzes the law and economics of insider trading in the context of takeover bids, focusing on the European …

Persistent link: https://www.econbiz.de/10013090185

Informed Options Trading Prior to Takeover Rumors

Khadivar, Hamed; Davis, Frederick James; Walker, Thomas John - 2022

We examine derivatives trading prior to takeover rumors in a sample of 1,638 publicly traded U.S. firms. The volume of … options traded. In addition, the direction of option trades (abnormal call volume minus abnormal put volume) prior to takeover … rumors predicts forthcoming takeover announcements and rumor date returns. Identifying suspicious trades, we find evidence of …

Persistent link: https://www.econbiz.de/10014238260

Do Insiders Time Management Buyouts and Freezeouts to Buy Undervalued Targets?

Harford, Jarrad V. T. - 2018

We provide evidence that managers and controlling shareholders time management buyouts (MBOs) and freezeout transactions to take advantage of industry-wide undervaluation. Portfolios of industry peers of MBO and freezeout targets show significant alphas of around 1% per month over the 12-month...

Persistent link: https://www.econbiz.de/10012936053

Insider Trading in Rumored Takeover Targets

Davis, Frederick James - 2020

We examine insider trading surrounding takeover rumors in a sample of 1,642 publicly traded U.S. firms. Using … of a takeover rumor, particularly when rumor articles are either accurate (lead to a takeover announcement) or … significant predictor of takeover announcements occurring within the following year. Finally, passive net purchasing (i …

Persistent link: https://www.econbiz.de/10012828616

Overlapping Insiders and the Method of Payment in Acquisitions : New Tests and Evidence on Adverse Selection

Jindal, Varun; Seth, Rama - 2023

Exploiting a unique setting of overlapping insiders between acquirers and targets in India, we examine how information asymmetry between the transacting parties influences the returns to acquiring firms’ shareholders as well as the method of payment. Using a novel dataset, we find that...

Persistent link: https://www.econbiz.de/10014258418

Insider trading and fraudulent share repurchase

Wang, Du; Li, Xiang; Tang, Hui; Sun, Yicheng - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 227-260

Share repurchase conveys information to investors and influences stock price in capital market. Normally when a company announces share buyback, the company's stock price will rise immediately. Thus, some insiders may take advantage of this pattern and create a fake repurchase event. When the...

Persistent link: https://www.econbiz.de/10014518581

Who Acquires Information in Dealer Markets?

Rüdiger, Jesper - 2020

We study information acquisition in dealer markets. We first identify a one-sided strategic complementarity in information acquisition: the more informed traders are, the larger market makers' gain from becoming informed. When quotes are observable, this effect in turn induces a strategic...

Persistent link: https://www.econbiz.de/10012854920

The Creation of Value for Shareholders in Tender Offers : An Empirical Investigation on the Italian Stock Market

Rossi, Fabrizio - 2013

The economic and monetary unification, the globalization of markets and the increasing use of new Information and Communication Technologies (ICT) have increased the level of competition in all sectors of the economy by opening the way to processes of Mergers and Acquisitions between companies....

Persistent link: https://www.econbiz.de/10013089361