Advance disclosure of insider transactions: Empirical evidence from the Vietnamese stock market
Author
Abstract
Suggested Citation
DOI: 10.1016/j.irle.2023.106137
Note: View the original document on HAL open archive server: https://hal.science/hal-04133742v1
Download full text from publisher
Other versions of this item:
- Lefebvre, Jérémie & Mazza, Paolo, 2023. "Advance disclosure of insider transactions: Empirical evidence from the Vietnamese stock market," International Review of Law and Economics, Elsevier, vol. 74(C).
References listed on IDEAS
- Stanislas Nivelleau de La Brunière & Jean-Come Haye & Paolo Mazza, 2020. "The performance of corporate legal insiders on the French stock market," Post-Print hal-02998232, HAL.
- Del Brio, Esther B. & Miguel, Alberto & Perote, Javier, 2002. "An investigation of insider trading profits in the Spanish stock market," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(1), pages 73-94.
- Cui, Zhenyu & Deng, Jun & Lenkey, Stephen L., 2019. "Revisiting advance disclosure of insider trading," Economics Letters, Elsevier, vol. 182(C), pages 78-81.
- Jaffe, Jeffrey F, 1974. "Special Information and Insider Trading," The Journal of Business, University of Chicago Press, vol. 47(3), pages 410-428, July.
- Jana P. Fidrmuc & Marc Goergen & Luc Renneboog, 2006.
"Insider Trading, News Releases, and Ownership Concentration,"
Journal of Finance, American Finance Association, vol. 61(6), pages 2931-2973, December.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Other publications TiSEM 2cc19d5c-a469-4877-a6f4-a, Tilburg University, School of Economics and Management.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Discussion Paper 2005-025, Tilburg University, Tilburg Law and Economic Center.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Other publications TiSEM 12ebc2dc-8f53-4136-b360-6, Tilburg University, School of Economics and Management.
- Fidrmucova, J. & Goergen, M. & Renneboog, L.D.R., 2005. "Insider Trading, News Releases and Ownership Concentration," Discussion Paper 2005-97, Tilburg University, Center for Economic Research.
- Stephen L Lenkey, 2019. "Cancellable Insider Trading Plans: An Analysis of SEC Rule 10b5-1," The Review of Financial Studies, Society for Financial Studies, vol. 32(12), pages 4947-4996.
- Lakonishok, Josef & Lee, Inmoo, 2001. "Are Insider Trades Informative?," The Review of Financial Studies, Society for Financial Studies, vol. 14(1), pages 79-111.
- Leslie A. Jeng & Andrew Metrick & Richard Zeckhauser, 2003. "Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 453-471, May.
- Alan D. Jagolinzer, 2009. "SEC Rule 10b5-1 and Insiders' Strategic Trade," Management Science, INFORMS, vol. 55(2), pages 224-239, February.
- Jonathan A. Milian, 2016. "Insider sales based on short-term earnings information," Review of Quantitative Finance and Accounting, Springer, vol. 47(1), pages 109-128, July.
- André Betzer & Erik Theissen, 2009.
"Insider Trading and Corporate Governance: The Case of Germany,"
European Financial Management, European Financial Management Association, vol. 15(2), pages 402-429, March.
- Betzer, André & Theissen, Erik, 2007. "Insider trading and corporate governance: The case of Germany," CFR Working Papers 07-07, University of Cologne, Centre for Financial Research (CFR).
- Hans Degryse & Frank Jong & Jérémie Lefebvre, 2014.
"An Empirical Analysis of Legal Insider Trading in The Netherlands,"
De Economist, Springer, vol. 162(1), pages 71-103, March.
- Hans Degryse & Frank de Jong & Jérémie Lefebvre, 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," CESifo Working Paper Series 2687, CESifo.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Discussion Paper 2009-48, Tilburg University, Center for Economic Research.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Other publications TiSEM 0d74f29a-ed4f-4c26-9c55-9, Tilburg University, School of Economics and Management.
- Baesel, Jerome B. & Stein, Garry R., 1979. "The Value of Information: Inferences from the Profitability of Insider Trading," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(3), pages 553-571, September.
- Emanuele Bajo & Barbara Petracci, 2006. "Do what insiders do: Abnormal performances after the release of insiders' relevant transactions," Studies in Economics and Finance, Emerald Group Publishing, vol. 23(2), pages 94-118, June.
- Chang, Saeyoung & Suk, David Y, 1998. "Stock Prices and the Secondary Dissemination of Information: The Wall Street Journal's "Insider Trading Spotlight" Column," The Financial Review, Eastern Finance Association, vol. 33(3), pages 115-128, August.
- repec:bla:jfinan:v:43:y:1988:i:1:p:129-41 is not listed on IDEAS
- Seyhun, H. Nejat, 1986. "Insiders' profits, costs of trading, and market efficiency," Journal of Financial Economics, Elsevier, vol. 16(2), pages 189-212, June.
- Alexander Robbins, 2010. "The rule 10b5-1 loophole: an empirical study," Review of Quantitative Finance and Accounting, Springer, vol. 34(2), pages 199-224, February.
- Cheuk, Man-Yin & Fan, Dennis K. & So, Raymond W., 2006. "Insider trading in Hong Kong: Some stylized facts," Pacific-Basin Finance Journal, Elsevier, vol. 14(1), pages 73-90, January.
- Rozeff, Michael S & Zaman, Mir A, 1988. "Market Efficiency and Insider Trading: New Evidence," The Journal of Business, University of Chicago Press, vol. 61(1), pages 25-44, January.
- Lucian Arye Bebchuk & Jesse M. Fried, 2003.
"Executive Compensation as an Agency Problem,"
Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 71-92, Summer.
- Lucian Arye Bebchuk & Jesse M. Fried, 2003. "Executive Compensation as an Agency Problem," NBER Working Papers 9813, National Bureau of Economic Research, Inc.
- Bebchuk, Lucian Arye & Fried, Jesse, 2003. "Executive Compensation as an Agency Problem," CEPR Discussion Papers 3961, C.E.P.R. Discussion Papers.
- Finnerty, Joseph E, 1976. "Insiders and Market Efficiency," Journal of Finance, American Finance Association, vol. 31(4), pages 1141-1148, September.
- Seyhun, H Nejat, 1988. "The Information Content of Aggregate Insider Trading," The Journal of Business, University of Chicago Press, vol. 61(1), pages 1-24, January.
- Nivelleau De La Brunière, Stanislas & Haye, Jean-Come & Mazza, Paolo, 2020. "The performance of corporate legal insiders on the French stock market," International Review of Law and Economics, Elsevier, vol. 61(C).
- Givoly, Dan & Palmon, Dan, 1985. "Insider Trading and the Exploitation of Inside Information: Some Empirical Evidence," The Journal of Business, University of Chicago Press, vol. 58(1), pages 69-87, January.
- Bebchuk, Lucian A. & Fried, Jesse M., 2003. "Executive Compensation as an Agency Problem," Berkeley Olin Program in Law & Economics, Working Paper Series qt81q3136r, Berkeley Olin Program in Law & Economics.
- Stephen L. Lenkey, 2014. "Advance Disclosure of Insider Trading," The Review of Financial Studies, Society for Financial Studies, vol. 27(8), pages 2504-2537.
- Stewart R Miller & Dan Li & Lorraine Eden & Michael A Hitt, 2008. "Insider trading and the valuation of international strategic alliances in emerging stock markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(1), pages 102-117, January.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Mazza, Paolo & Ruh, Benjamin, 2022. "The performance of corporate legal insider trading in the Korean market," International Review of Law and Economics, Elsevier, vol. 71(C).
- Peter Cziraki & Prof. Dr. Luc Renneboog & Peter de Goeij, 2010. "Insider Trading, Option Exercises and Private Benefits of Control," CERS-IE WORKING PAPERS 1006, Institute of Economics, Centre for Economic and Regional Studies.
- Hans Degryse & Frank Jong & Jérémie Lefebvre, 2014.
"An Empirical Analysis of Legal Insider Trading in The Netherlands,"
De Economist, Springer, vol. 162(1), pages 71-103, March.
- Hans Degryse & Frank de Jong & Jérémie Lefebvre, 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," CESifo Working Paper Series 2687, CESifo.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Other publications TiSEM 0d74f29a-ed4f-4c26-9c55-9, Tilburg University, School of Economics and Management.
- Degryse, H.A. & de Jong, F.C.J.M. & Lefebvre, J.J.G., 2009. "An Empirical Analysis of Legal Insider Trading in the Netherlands," Discussion Paper 2009-48, Tilburg University, Center for Economic Research.
- Laurel Franzen & Xu Li & Oktay Urcan & Mark E. Vargus, 2014. "The Market Response To Insider Sales Of Restricted Stock Versus Unrestricted Stock," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(1), pages 99-118, February.
- Jonathan A. Milian, 2016. "Insider sales based on short-term earnings information," Review of Quantitative Finance and Accounting, Springer, vol. 47(1), pages 109-128, July.
- Cziraki, P. & de Goeij, P. C. & Renneboog, L.D.R., 2010.
"Insider Trading, Option Exercises and Private Benefits of Control (Revision of DP 2010-32),"
Other publications TiSEM
d77eb862-1191-40d2-b2e6-f, Tilburg University, School of Economics and Management.
- Cziraki, P. & de Goeij, P. C. & Renneboog, L.D.R., 2010. "Insider Trading, Option Exercises and Private Benefits of Control (Revision of DP 2010-32)," Discussion Paper 2010-90, Tilburg University, Center for Economic Research.
- Abu Chowdhury & Sabur Mollah & Mir A. Zaman, 2018. "What Motivates CEO and CFO Trading – Contrarian Beliefs or Superior Information?," Working Papers 2018-10, Swansea University, School of Management.
- Tavakoli, Manouchehr & McMillan, David & McKnight, Phillip J., 2012. "Insider trading and stock prices," International Review of Economics & Finance, Elsevier, vol. 22(1), pages 254-266.
- Van Geyt, Debby & Van Cauwenberge, Philippe & Vander Bauwhede, Heidi, 2014. "Does high-quality corporate communication reduce insider trading profitability?," International Review of Law and Economics, Elsevier, vol. 37(C), pages 1-14.
- Chirkova, Elena (Чиркова, Елена) & Petrov, Vladislav (Петров, Владислав), 2015. "The Diagnosis of the Insider Trading During the Conflict of Shareholders of “VimpelCom” in 2005-2013 [Диагностирование Инсайдерской Торговли В Период Конфликта Акционеров Оао «Вымпелком» В 2005—201," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 151-173.
- Brajesh Kumar & Ajay Pandey, 2011. "Price Discovery in emerging commodity markets: Spot and Futures relationship in indian commodity Futures market," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 25(1), pages 79-121.
- Shallu Arora & Meena Sharma & A. K. Vashisht, 2017. "Impact of managerial ability and firm-specific variables on insider’s abnormal returns," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 44(4), pages 275-286, December.
- Aktas, Nihat & de Bodt, Eric & Van Oppens, Hervé, 2008. "Legal insider trading and market efficiency," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1379-1392, July.
- Jonathan L. Rogers, 2008. "Disclosure Quality and Management Trading Incentives," Journal of Accounting Research, Wiley Blackwell, vol. 46(5), pages 1265-1296, December.
- Ali, Usman & Hirshleifer, David, 2017. "Opportunism as a firm and managerial trait: Predicting insider trading profits and misconduct," Journal of Financial Economics, Elsevier, vol. 126(3), pages 490-515.
- Feng Gu & John Q. Li, 2007. "The Credibility of Voluntary Disclosure and Insider Stock Transactions," Journal of Accounting Research, Wiley Blackwell, vol. 45(4), pages 771-810, September.
- Kaspar Dardas & Andre Güttler, 2011. "Are directors’ dealings informative? Evidence from European stock markets," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(2), pages 111-148, June.
- Cagdas Tahaoglu & Z. Nuray Guner, 2011. "An Investigation Of Returns To Insider Transactions: Evidence From The Istanbul Stock Exchange," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 25(1), pages 57-77.
- Ryu, Doojin & Yang, Heejin & Yu, Jinyoung, 2022. "Insider trading and information asymmetry: Evidence from the Korea Exchange," Emerging Markets Review, Elsevier, vol. 51(PA).
- André Betzer & Erik Theissen, 2009.
"Insider Trading and Corporate Governance: The Case of Germany,"
European Financial Management, European Financial Management Association, vol. 15(2), pages 402-429, March.
- Betzer, André & Theissen, Erik, 2007. "Insider trading and corporate governance: The case of Germany," CFR Working Papers 07-07, University of Cologne, Centre for Financial Research (CFR).
More about this item
JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04133742. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.