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SEC Deterrence and Insider Trading Informativeness.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	SEC Deterrence and Insider Trading Informativeness./
作者:	Schmitt, Andrew.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2020,
面頁冊數:	84 p.
附註:	Source: Masters Abstracts International, Volume: 81-12.
Contained By:	Masters Abstracts International81-12.
標題:	Finance. -
電子資源:	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:

559073
Finance.
Subjects--Index Terms:

Insider Trading

SEC Deterrence and Insider Trading Informativeness.
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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.
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650 4 $a Economics. $3 555568
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653 $a Returns to Insider Trading
653 $a SEC Chairmen Changes
653 $a SEC Deterrence of Insider Trading
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690 $a 0508
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