Insider Trading as a Signal of Private Information.

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Damodaran, Aswath; Liu, Crocker H;
  • Journal: Review of Financial Studies, volume 6, issue 1, pages 79-119

There is substantial evidence that insider trading is present around corporate announcements and that this insider trading is motivated by private information. Using real estate investment trusts that choose to reappraise themselves as our sample, we establish that the ... View more
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