The probability of information-based trading (PIN) introduced by Easley and O'Hara (1987)
has been increasingly used in empirical research in finance. We investigate its behavior …

This paper examines the impact of takeover bids and, in particular, the method of payment to
the shareholders of the target firms on the returns, trading activity and bid‐ask spreads of …

A sample of 128 Canadian acquisitions from 1985 through 1995 is used to examine the
relationship between pre-bid price run-ups in target shares and insider trading activity. We …

We examine insider trading surrounding takeover rumors in a sample of 1,642 publicly
traded US firms. Using difference‐in‐differences regressions, we find that insider net …

We test whether an increase either in informed trades or in large liquidity trades leads to
greater correlation of trading volume across markets. We confirm that both trading volume …

The purpose of this study is to find out the price and trading volume activity of shares in the
Jakarta Stock Exchange on the event of merger announcements, also to find out whether …

This paper examines issues pertinent to using number of transactions in event-type studies
of market trading response. It presents rejection frequencies for portfolios of 20, 50, and 100 …

Purpose–The purpose of this paper is to investigate the immediate impact of firm-specific
announcements on the trading volume of individual and institutional investors on the …

Abstract Since Great Britain's return of Hong Kong's sovereignty to the Chinese government
in 1997, attention has been increasingly directed at the degree of market efficiency in the …

This study investigates the volume reaction to merger and acquisition (M&A)
announcements for acquiring firms. It identifies the method of payment, target ownership …