Insider trading in Australia: Contrarianism and future performance
This paper examines, within the Australian market, the extent to which legal insider trades are information driven, premised on a disconnect between the market's assessment of firm value, and that of more informed insiders. I address the notion that insiders, endowed with superior information about their firm, are contrarian, reflecting disagreement with the market's current perception of firm value, and also use this knowledge by trading in advance of future performance indicators not known to...[Show more]
|Collections||ANU Research Publications|
|Source:||Pacific-Basin Finance Journal|
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