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SEC Deterrence and Insider Trading Informativeness.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	SEC Deterrence and Insider Trading Informativeness./
Author:	Schmitt, Andrew.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2020,
Description:	84 p.
Notes:	Source: Masters Abstracts International, Volume: 81-12.
Contained By:	Masters Abstracts International81-12.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27829332
ISBN:	9798645489113

SEC Deterrence and Insider Trading Informativeness.
Schmitt, Andrew.

SEC Deterrence and Insider Trading Informativeness. - Ann Arbor : ProQuest Dissertations & Theses, 2020 - 84 p.

Source: Masters Abstracts International, Volume: 81-12.

Thesis (M.A.)--University of Georgia, 2020.

This item must not be sold to any third party vendors.

This paper analyzes all insider transactions from 2010 to 2019 and examines the effects of increased SEC enforcement actions on the abnormal returns that insiders receive. This paper uses CAPM and Fama-French Three-Factor methods of return analysis on constructed insider buying and selling portfolio from SEC Form 4 data. This paper finds that consistent with the prior literature that insiders have abnormal returns in their buying and selling portfolios. Using a hand-collected SEC insider trading data set from all insider trading cases from 2009 to 2019, the paper finds that these abnormal returns are depressed in companies listed in an SEC investigation, especially within the first year. Additionally, it finds that proxies for SEC deterrence and changes in SEC Chairmen have significant effects on abnormal returns for the insiders' buying and selling portfolios.

ISBN: 9798645489113Subjects--Topical Terms:

555568
Economics.
Subjects--Index Terms:

Insider Trading

SEC Deterrence and Insider Trading Informativeness.
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245 1 0 $a SEC Deterrence and Insider Trading Informativeness.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2020
300 $a 84 p.
500 $a Source: Masters Abstracts International, Volume: 81-12.
500 $a Advisor: Mustard, David.
502 $a Thesis (M.A.)--University of Georgia, 2020.
506 $a This item must not be sold to any third party vendors.
520 $a This paper analyzes all insider transactions from 2010 to 2019 and examines the effects of increased SEC enforcement actions on the abnormal returns that insiders receive. This paper uses CAPM and Fama-French Three-Factor methods of return analysis on constructed insider buying and selling portfolio from SEC Form 4 data. This paper finds that consistent with the prior literature that insiders have abnormal returns in their buying and selling portfolios. Using a hand-collected SEC insider trading data set from all insider trading cases from 2009 to 2019, the paper finds that these abnormal returns are depressed in companies listed in an SEC investigation, especially within the first year. Additionally, it finds that proxies for SEC deterrence and changes in SEC Chairmen have significant effects on abnormal returns for the insiders' buying and selling portfolios.
590 $a School code: 0077.
650 4 $a Economics. $3 555568
650 4 $a Finance. $3 559073
653 $a Insider Trading
653 $a Returns to Insider Trading
653 $a SEC Chairmen Changes
653 $a SEC Deterrence of Insider Trading
690 $a 0501
690 $a 0508
710 2 $a University of Georgia. $b Economics - MA. $3 1372477
773 0 $t Masters Abstracts International $g 81-12.
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792 $a 2020
793 $a English
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