Chakravarty, Sugato; McConnell, John J. - In: Journal of Financial and Quantitative Analysis 34 (1999) 02, pp. 191-209
Prior studies have reported a positive correlation between insider trading and stock price changes implying that insider (i.e., informed) trades affect price discovery differently than non-insider (i.e., uninformed) trades. Based on these results, various scholars have argued for the...