We examine the relation between the investment horizons of insiders and the information content of their trading activity regarding future stock returns. We conjecture that an insider's investment horizon establishes a benchmark for expected patterns of continued trading behavior, and thus helps...

This paper examines the trading patterns of retail investors following insider trading and the corresponding price impact. Retail investors follow the opportunistic purchases by insiders, but not their routine purchases. The abnormal retail downloads of the Form 4 filings from the EDGAR database...