Board Insider Trading: an Investigation of Individual Director Characteristics, Board Social Connections and Consequences for Board Performance KU Leuven
In the finance literature, a vast body of research shows that that insiders trade on their private information and doing so, earn abnormal returns (Ke et al. 2003; Jagolinzer, 2009; Ravina and Sapienza, 2010, Huddart et al. 2007). However, we know very little about the personal characteristics of directors engaging in insider trading. Although insider trading decisions are individually taken by insiders, prior research has predominantly ...