Eglīte, Elza; Štaermans, Dans; Patel, Vinay; … - 2023
We show that exchange traded funds (ETFs) are used in a new form of insider trading known as “shadow trading.” Our … ETFs that contain the target stock, rather than trading the underlying company shares, thereby concealing their insider … trading per annum. Our findings suggest insider trading is more pervasive than just the “direct” forms that have been the …