Are Insider Trades Informative

By Josef Lakonishok, I. Lee. 2001

1,205 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7aa0b5e093d5791388de563d567bdc5543186e0f

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Citations in the corpus

Equity Incentives and Earnings Management (2005, neutral): “'4 Lakonishok and Lee (2001) find that insiders in large firms sell more shares, although in a smaller proportion to market value.”
Does Insider Trading Impair Market Liquidity? Evidence from IPO Lockup Expirations (2004, background): “…Penman (1982), (1985), Elliot, Morse, and Richardson (1984), Givoly and Palmon (1985), Seyhun (1988), (1992), Hirschey and Zaima (1989), Lin and Howe (1990), John and Lang (1991), Seyhun and Bradley (1997), Noe (1999), and Lakonishok and Lee (2001). shares, typically two-thirds of the total float.”
The Governance Effect of the Media's News Dissemination Role: Evidence from Insider Trading (2015, positive): “Following Lakonishok and Lee [2001], we include Size and MB to control for size and book-”
The Predictive Content of Aggregate Analyst Recommendations (2009, neutral): “To correct for serial correlation and conditional heteroskedasticity, we follow Lakonishok and Lee (2001) to use Newey-West (1987) standard errors with four lags.”
Block Ownership, Trading Activity, and Market Liquidity (2009, neutral): “Consistent with this argument, Lakonishok and Lee (2001) find that managerial trades are more informative than large shareholder trades.”
The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices (2004, background): “Prior research shows that the informativeness of insider trades decreases with firm size (Lakonishok and Lee 2001).”
Corporate governance and the information environment: Evidence from state antitakeover laws ☆ (2012, methodology): “We follow prior literature (Lakonishok and Lee, 2001; Frankel and Li, 2004) and compute the net purchase ratio (NPR) to”
To Fair Value or Not to Fair Value: A Broader Perspective (2008, background): “Hence, accounting would serve its role if management honestly communicated its own estimate of prospective cash flows through the accounting reports (see, e.g., Lorie and Niederhoffer, 1968; Jaffe, 1974; Givoly and Palmon, 1985; Seyhun, 1986; Rozeff and Zaman, 1988; Lakonishok and Lee, 2001).”
Decoding Inside Information (2012, neutral): “Thus our predictability evidence is not limited to smaller firms, as in some prior studies that use insider trading data (see Lakonishok and Lee (2001)).16 Further, these results again demonstrate that all of the return predictability in the insider universe is concentrated within the trades of…”