This study assesses the level of potential insider trading on the Saudi stock market (Tadawul) before and after the introduction of financial reforms. The level of potential insider trading is estimated by employing the market cleanliness measure (MCM) which determines the proportion of...

The opportunistic use of insider information generates adverse effects on capital markets, making its mitigation through robust corporate governance practices. This research analyzes the corporate governance mechanisms that reduce the signs of opportunistic insider trading, grounded in the...

Inspired by the limited research regarding the influence of CEO succession origin on corporate misconduct, this study draws on organizational identification theory and agency theory to examine this issue. Empirical analysis indicates that insider CEOs significantly constrain corporate misconduct...

According to the research, the proportions of various types of investors may or may not change in response to different trading strategies or complex trading environments. This paper investigates a single-period trading model for multiple risk-averse and risk-neutral insider traders. The...

Merger and acquisition (M&A) transactions are highly information sensitive, frequently making them insider trading targets, which undermines market fairness and stability. This paper examines how common institutional ownership affects insider trading in M&A through a 2010 to 2023 analysis of...

This paper establishes an insider trading model under market supervision, which includes four types of trading entities: an insider trader, n external traders, noise traders, and market makers. The insider trader voluntarily discloses information to the external traders during the trading...

Chapter 1 What’s That Got To Do With The Price of Eggs -- Chapter 2 Disconnections -- Chapter 3 Chart Watching.-Chapter 4 Higgling -- Chapter 5 The Human Factor -- Chapter 6 The Intent of One, The Intentions of Two -- Chapter 7 The Mystery of Manipulation -- Chapter 8 Banging The Close.

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...

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of corporate events. We find that relationship...

The macroeconomic policy environment affects the internal governance of microenterprises, which may provide opportunities for management to benefit from stock sales while decreasing its motivation to manipulate stock transactions. Using a sample of Chinese A-share listed companies from 2007 to...

This paper examines whether share repurchase announcements are signals of undervaluation or insiders’ opportunistic activities by investigating insider trading patterns surrounding buyback announcements in Vietnam. Consistent with the insider opportunism hypothesis, we show that insiders are...