This study empirically investigates two effects of alternative data availability: stock price
informativeness and its disciplining effect on managers' actions. Recent computing …

Using the artifice of a hypothetical trial, this article presents the cases for and against insider
trading. Both sides in the trial produce as evidence the salient points made in more than 100 …

Using a large sample of US firms during 1964–2007, we find that conditional conservatism is
associated with a lower likelihood of a firm's future stock price crashes. This finding holds for …

Exploiting the fact that insiders trade for a variety of reasons, we show that there is
predictable, identifiable “routine” insider trading that is not informative about firms' futures. A …

Bitcoin's price sensitivity to the material events makes informed trading very profitable in this
new market. We propose a novel indicator to assess informed trades ahead of …

摘要本文在我国股市限制卖空的制度背景下, 以和的异质信念模型为基础, 运用固定效应条件肠
模型检验了异质信念与我国股市个股暴跌之间的关系. 研究发现, 我国投资者的异质信念程度越 …

We show that opportunistic insiders can be identified through the profitability of their trades
prior to quarterly earnings announcements (QEAs) and that opportunistic trading is …

Using a novel database that tracks web traffic on the Security Exchange Commission's
EDGAR server between 2004 and 2015, we show that institutional investors gather …

This paper investigates how companies can utilise Twitter social media-derived sentiment
as a method of generating short-term corporate value from statements based on initiated …

We study how the presence of short sellers affects the incentives of the insiders to trade on
negative information. We show it induces insiders to sell more (shares from their existing …