We examine the nature of information contained in insider trades prior to corporate events.
Insiders' net buying increases before open market share repurchase announcements and …

As illustrated in the tale of “the dog that did not bark,” the absence of news and the passage
of time often contain information. We test whether markets fully incorporate this information …

ABSTRACT I provide evidence that stocks experiencing unusually low trading volume over
the week prior to earnings announcements have more unfavorable earnings surprises. This …

We revisit the information content of stock trading by corporate insiders with an expectation
that opportunistic insiders will spread their trades over longer periods of time when they …

Examining the trades of company insiders, I find that a sale of stock at a loss is a much more
negative signal about future returns than is a sale of stock at a gain. I consider a range of …

This paper examines the trading behavior of US corporate insiders and certain groups of
institutional investors (short‐term, transient, top‐performing, and those with fiduciary …

We present evidence of investors underreacting to the absence of events in financial
markets. Routine-based insiders strategically choose to be silent when they possess private …

Members of Congress (politicians) are required to report their own and their family members'
financial transactions to the public via periodic statements. This paper investigates the …

We examine how algorithmic trading (AT) changes the trading environment for corporate
insiders, specifically in terms of motivation to trade and timing of trade. Using SEC Form 4 …

Some individuals, eg, those holding multiple directorships, are insiders at multiple firms.
When they execute an insider trade at one firm, they may reveal information about the value …