BUSHMAN, ROBERT M.; PIOTROSKI, JOSEPH D.; SMITH, ABBIE J. - In: Journal of Finance 60 (2005) 1, pp. 35-66
Motivated by extant finance theory predicting that insider trading crowds out private information acquisition by outsiders, we use data for 100 countries for the years 1987-2000 to study whether analyst following in a country increases following restriction of insider trading activities. We...