The Announcement Effects of Insider Trading

The Announcement Effects of Insider Trading

This paper examines the insider trading activity in Malaysia. It tries to examine the existence of the abnormal profit from this activity. While developed countries like United States and United Kingdom recently reported that the activity can no longer gives abnormal profit for long period due to l...

Full description

Saved in:
Bibliographic Details
Main Author: Ahmad Fawwaz, Mohd Nasarudin
Format: Thesis
Language:eng
eng
Published: 2009
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/1830/1/Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf
https://etd.uum.edu.my/1830/2/1.Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-uum-etd.1830
record_format uketd_dc
spelling my-uum-etd.18302022-04-21T01:44:40Z The Announcement Effects of Insider Trading 2009 Ahmad Fawwaz, Mohd Nasarudin College of Business (COB) College of Business HG Finance This paper examines the insider trading activity in Malaysia. It tries to examine the existence of the abnormal profit from this activity. While developed countries like United States and United Kingdom recently reported that the activity can no longer gives abnormal profit for long period due to laws imposed in those countries, attention now turns to emerging market like Malaysia. By using event study analysis, 200 cases of insider trading activity reported between January 2008 and March 2009 were closely examine and the result shows that while abnormal return do exist, it is mostly not significant. This paper also looks at the individuals and institutional insider and their performances respectively. 2009 Thesis https://etd.uum.edu.my/1830/ https://etd.uum.edu.my/1830/1/Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf text eng public https://etd.uum.edu.my/1830/2/1.Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf text eng public masters masters Universiti Utara Malaysia Ahmet Kara, Karen Craft Denning (1998), “A model and empirical test of the strong form efficiency of US capital markets: More evidence of insider trading profitability”, Applied Financial Economics.Cheuk, M.Y, Dennis K. Fan, Raymond W. So (2006), “Insider trading in Hong Kong: Some stylized facts”, Pacific-Basin Finance Journal 14 (2006) 73– 90 Eckbo, B.E., Smith, D.C., (1998), “The conditional performance of insider trades”,Journal of Finance 53, 467–498.Fama, E., French, K., (1992),“The cross-section of expected returns.” Journal of Finance 47, 427– 466.Fama, E., French, K., (1995), “Size and book-to-market factors in earnings and returns.Journal of Finance 50”, 131–155.Finnerty, J., (1976), “Insiders and market efficiency.” Journal of Finance 31, 1141–1148.Grinblatt, M., Keloharju, M.(2001), “What makes investors trade?” Journal of Finance 56, 589–616.43 Jaffe, J.F., (1974), “Special information and insider trading”, Journal of Business 47,410–428.Jeng, L., Metrick, A., Zeckhauser, R., (2003),“ Estimating the returns to insider trading: a performance-evaluation perspective”, Review of Economics and Statistics 85, 453–471.Joseph D. Beams, Robert M. Brown and Larry N. Killough (2003), “An Experiment Testing the Determinants of Non-Compliance with Insider Trading Laws”, Journal of Business Ethics 45, pp 309-323, 2003.Juha-Pekka Kallunki, Henrik Nilsson and Jorgen Hellstrom (2009), “Why do insiders trade? Evidence based on unique data on Swedish insiders”, Journal of Accounting and Economics.Lakonishok, J., Lee, I., (2001) “Are insider trades informative?”, Review of Financial Studies 14, 79–111.Lin, J., Howe, J., (1990), “Insider trading in the OTC market”, Journal of Finance 45,1273–1284.Louis Cheng, Michael Firth, T.Y. Leung and Oliver Rui (2006), “The effects of insider trading on liquidity”, Pacific-Basin Finance Journal 14 (2006) 467–483 44 Nasser Arshadi (1998), “Insider Trading Liability and Enforcement Strategy”, Financial Management, Vol. 27, No. 2, Summer 1998, pages 70 – 84.Philip Anthony Ohara (2001), “Insider trading in financial market”, International Journal of Social Economics Vol. 28, pp 1046-1062.Pope, P.F., Morris, R.C., Peel, D.A., (1990), “ Insider trading: some evidence on market efficiency and director’ share dealings in Great Britain”, Journal of Business, Finance,and Accounting 17, 359–380.Rozeff, M., Zaman, M., (1988), “ Market efficiency and insider trading: new evidence” Journal of Business 61,25–44 Seyhun, N., (1988), “The information content of aggregate insider trading”, Journal of Business 61, 1– 23.
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
topic HG Finance
spellingShingle HG Finance
Ahmad Fawwaz, Mohd Nasarudin
The Announcement Effects of Insider Trading
description This paper examines the insider trading activity in Malaysia. It tries to examine the existence of the abnormal profit from this activity. While developed countries like United States and United Kingdom recently reported that the activity can no longer gives abnormal profit for long period due to laws imposed in those countries, attention now turns to emerging market like Malaysia. By using event study analysis, 200 cases of insider trading activity reported between January 2008 and March 2009 were closely examine and the result shows that while abnormal return do exist, it is mostly not significant. This paper also looks at the individuals and institutional insider and their performances respectively.
format Thesis
qualification_name masters
qualification_level Master's degree
author Ahmad Fawwaz, Mohd Nasarudin
author_facet Ahmad Fawwaz, Mohd Nasarudin
author_sort Ahmad Fawwaz, Mohd Nasarudin
title The Announcement Effects of Insider Trading
title_short The Announcement Effects of Insider Trading
title_full The Announcement Effects of Insider Trading
title_fullStr The Announcement Effects of Insider Trading
title_full_unstemmed The Announcement Effects of Insider Trading
title_sort announcement effects of insider trading
granting_institution Universiti Utara Malaysia
granting_department College of Business (COB)
publishDate 2009
url https://etd.uum.edu.my/1830/1/Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf
https://etd.uum.edu.my/1830/2/1.Ahmad_Fawwaz_Bin_Mohd_Nasarudin.pdf
_version_ 1747827213682606080

Similar Items