Kallunki, Juha-Pekka; Nilsson, Henrik; Hellström, Jörgen - In: Journal of Accounting and Economics 48 (2009) 1, pp. 37-53
In this paper, we examine if corporate insiders have other motives for trading besides exploitation of private information. Our results show that insiders' portfolio re-balancing objectives, tax considerations and behavioral biases play the most important role in their trading decisions. We also...