Chakravarty, Sugato; McConnell, John J. - In: Financial Management 26 (1997) 2
In 1984, Ivan Boesky purchased 1.7 million shares of Carnation's stock on the basis of illegally obtained insider information. The events and data allow testing of the impact of informed trading on share prices and market liquidity. A positive and significant relation is found between Boesky's...