This study examines long-term excess returns subsequent to directors' dealings announcements between January 2002 and December 2009 from 17 Western European countries. Excess returns are adjusted with equally weighted portfolios which are size and sector neutral. The main findings show that...

This article analyzes intraday stock price and trading volume reactions to directors' dealings announcements in Germany and the United Kingdom from January 2007 to June 2010. The main findings show that prompt public disclosure of directors' dealings, as mandated by the EU Transparency...

In the wake of the recent financial crisis, many governments extended public guarantees to banks. We take advantage of a natural experiment, in which long-standing public guarantees were removed for a set of German banks following a lawsuit, to identify the real effects of these guarantees on...