Engelen, Peter-Jan - In: CESifo economic studies : CESifo, a joint initiative of … 58 (2012) 1, pp. 140-163
top managers. We examine news announcements of illegal insider trading reported in US press during the period 1993 until … 2008. We observe a clear negative abnormal return on the day of the newspaper coverage of the illegal insider trading … insider trading practices of their CEO and top managers, but not for the illegal insider trading by other employees and …