Purpose – Using data for actual insider trading cases prosecuted by the Securities and Exchange Commission, the paper aims to investigate whether insiders trade strategically to avoid detection. Design/methodology/approach – The paper analyzes actual insider trades prior to price sensitive...

Purpose – The purpose of this paper is to investigate the cross‐sectional determinants of the role of the underwriter in aftermarket price discovery. Design/methodology/approach – The paper estimates Gonzalo‐Granger common factor weights across underwriter and non‐underwriter execution...