What Insiders Know About Future Earnings and How They Use it: Evidence from Insider Trades

By Bin Ke, S. Huddart, K. Petroni. 2003

598 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/339698059834d2b6e8f747c7a25f864b34537cf4

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Citations in the corpus

Internal Control Over Financial Reporting and Managerial Rent Extraction: Evidence from the Profitability of Insider Trading (2013, background): “As a result, the insider trading literature generally finds that insider trades are associated with abnormal stock returns over periods of one year (Lakonishok and Lee 2001) or even longer (Ke et al. 2003) after the trade.”
Earnings Momentum and Earnings Management (2007, unknown): “23 This test as a measure of smoothing appears in a number of papers including Land and Lang (2002), Leuz et al. (2003), and Lang et al.”
Jeopardy, Non-Public Information, and Insider Trading Around SEC 10-K and 10-Q Filings (2005, unknown): “Ke, Huddart, and Petroni (2003) document increased insider selling before breaks in a string of consecutive earnings increases; the average abnormal return over the 32 days before and including this event is 9 −4.29%, which is comparable to the means of abs(ARET EA) and abs(ARET FD) mea- sured over…”
Local institutional investors, information asymmetries, and equity returns (2010, background): “Several studies find that short-term institutional investors are better informed than long-term institutional investors and argue that institutional investors’ investment horizons reflect their information advantage (Ke and Ramalingegowda, 2005; Ke et al., 2006; Yan and Zhang, 2009). To the extent t”
Competition of the Informed: Does the Presence of Short Sellers Affect Insider Selling? (2015, methodology): “…the characteristics of insider trades (Scott and Xu, 2004; Jenter, 2005; Cohen et al., 2012), events upon which insiders trade (e.g., Kahle, 2000; Ke et al., 2003; Cheng and Lo, 2006; Huddart et al., 2007), or counterparties involved in trading, such as institutional and individual investors…”
Trading incentives to meet the analyst forecast (2006, background): “11 Ke et al. (2003) use a similar trading window (see pp. 322–323).”
Do Short Sellers Front-Run Insider Sales? (2013, unknown): “…INTRODUCTION A large prior literature studies the trades of informed market participants such as firm insiders (Ke et al. 2003; Piotroski and Roulstone 2005; Jagolinzer 2009), short sellers (Desai et al. 2006; Drake et al. 2011), analysts, institutional…”
Serial Acquirer Bidding: An Empirical Test of the Learning Hypothesis (2011, methodology): “27 focus on open market purchases and sales, as reported in Table 1 of Form 4 (see, e.g., Lakonishok and Lee, 2001; Ke et al., 2003; Aktas et al., 2008).”