Purpose The purpose of this paper is to examine the impact of regulatory changes by the US Securities and Exchange Commission in 2000 on private information leakage prior to merger announcements. Design/methodology/approach Using a sample of 5,045 merger announcements between 1990 and 2008, the...

Purpose – The purpose of this paper is to conduct an empirical analysis of the trading performance of US corporate insiders. Design/methodology/approach – Based on the volume weighted average price (VWAP), the authors propose a metric to measure the trading performance of US corporate...

Purpose – The purpose of this paper is to investigate how insiders’ trades are executed and whether and how outside investors can mimic outperforming insiders and reap substantial portfolio returns that withstand the erosion from adjustments for both the standard factors and stock...

Purpose – The aim of this paper is to examine how informed traders, i.e. transient institutional investors that actively trade on information to maximize investment profits, use insider trading signals in addition to accounting numbers to mitigate future abnormal returns....

Purpose – The purpose of this paper is to examine the impact of female board membership on the profitability of corporate insider purchases. Design/methodology/approach – The authors use a classic event study approach. They measure abnormal returns around the insider purchase events, and...

Purpose – This paper aims to gauge the issue of insider trading in Malaysia by assessing some selected statutory provisions under the relevant law and examining the issues of enforcement and prosecution. Design/methodology/approach – The paper analyses relevant legislation pertaining to...

Purpose – The purpose of this paper is to empirically study the relationship between informed trading and overall corporate governance mechanisms. Design/methodology/approach – A broad range of governance characteristics are used to measure the governance structure of firms in the Toronto...

Purpose – The purpose of this paper is to investigate what is denoted as episodes of concentrated short‐selling activity, or consecutive days of abnormal short‐sale activity in a particular stock. The motivation to do so is two fold. First, US regulators and regulators in other countries...

Purpose – The purpose of this paper is to examine whether insider trading surrounding a first‐time going concern audit opinion is associated with a firm's future bankruptcy status. Design/methodology/approach – Hypotheses are developed predicting that insiders of firms receiving going...

Purpose – This purpose of this paper is to investigate the determinants of board and audit committee meeting frequency. Design/methodology/approach – The determinants studied are related to the ownership structure and to the board characteristics. The study is conducted in an agency setting...