It is found that insiders are more likely to trade on high volume days, which indicates an effort to hide their trades. Further, insider trading raises the number of days with abnormally high trading volume only slightly, again indicating that insiders are avoiding attracting attention. No...

This study empirically examines the impact of changes in substantial shareholdings ahead of 450 Australian takeover offers between the years 2000-2009. Previous studies have attributed a significant proportion of the price run-up effect in takeover targets to insider-trading behavior. This paper...

This study examines the impact of corporate earnings announcements on trading activity and speed of price adjustment, analyzing algorithmic and non–algorithmic trades during the immediate period pre– and post– corporate earnings announcements. We confirm that algorithms react faster and...