The insider trading policy is an aspect of a firm's internal governance which ensures corporate transparency is maintained and promotes investor confidence. We examine the effect of trading policies on the returns to trades conducted by corporate insiders in a period where the adoption of a...

We examine how trading by institutional traders affects those by insiders. Using data at the trade level, we find insiders complete their trades faster when institutions trade on the same side in the stock. The effect of institutional activity on insider trading is more pronounced when insiders...

We examine how firm-imposed trading policies affect returns to trades conducted by corporate insiders. A firm's insider trading policy is a specific aspect of corporate governance which ensures and promotes ethical and responsible decision making so that investor confidence and corporate...