We investigate the performance and its link with information asymmetry, corporate governance and legal enforcement of insider transactions in 36 countries covering 10 Asian countries, 20 European countries and 6 countries in the rest. The results show that abnormal returns after insider trading...

Using a vector error correction model (VECM) and data from a period with high unreported intangible values, we show how to control for endogeneity feedback between capital expenditures (CAPX), research and development (RAND), and advertising (ADVT). We find increased ADVT induces excess returns...

This paper reports the results of a behavioural finance experiment on the ability of Thai individuals to make informed investment decisions under a defined contribution self-management option. Using an asset allocation dataset from members of the Thai Government Pension Fund (TGPF) and a control...

We examine corporate insider transactions around Sarbanes-Oxley §403 (SOX) regulatory regimes and subsequent Wall Street Journal (WSJ) media postings — and provide new evidence on the benefit/cost trade-off tension between private information transfer and stock trading costs. SOX increased...

We seek to understand how corporate governance affects transparency in emerging markets, where information asymmetry is endemically high. Using Thailand as a case study, we find that firms with better quality corporate governance have more firm-specific information incorporated in stock prices....