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The influence of insider identity on abnormal return
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2015 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This paper examines the market's reaction in abnormal return to the announcement of Swedish insider transactions. The results indicate on positive (negative) abnormal return when insider purchases (sell) shares. The outcome from purchase respectively sales are approximately equal in absolute value, which differs from earlier studies, where purchase transactions have given higher abnormal return. The information hierarchy hypothesis regarding insiders with more day-to-day information trade on more valuable information and in extent generate higher abnormal return is not supported. The examined period is from 2009 to 2014 and the firms with insider transactions are listed on OMX Stockholm Mid Cap.

Place, publisher, year, edition, pages
2015.
Keyword [en]
insider trading, abnormal return, event study, signaling, the information hierarchy hypothesis
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-243224OAI: oai:DiVA.org:uu-243224DiVA: diva2:786431
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Available from: 2015-02-05 Created: 2015-02-05 Last updated: 2015-02-05Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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Output format
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