The impact of business strategy on insider trading profitability
This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used adva...
Ausführliche Beschreibung
Autor*in: |
Chen, Guang-Zheng [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2019transfer abstract |
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Umfang: |
13 |
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Übergeordnetes Werk: |
Enthalten in: Semi-supervised hierarchical clustering ensemble and its application - Xiao, Wenchao ELSEVIER, 2016transfer abstract, Amsterdam [u.a.] |
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Übergeordnetes Werk: |
volume:55 ; year:2019 ; pages:270-282 ; extent:13 |
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DOI / URN: |
10.1016/j.pacfin.2019.04.007 |
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520 | |a This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. | ||
520 | |a This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. | ||
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10.1016/j.pacfin.2019.04.007 doi GBV00000000000723.pica (DE-627)ELV046888330 (ELSEVIER)S0927-538X(18)30303-2 DE-627 ger DE-627 rakwb eng 610 VZ 570 VZ BIODIV DE-30 fid 35.70 bkl 42.12 bkl Chen, Guang-Zheng verfasserin aut The impact of business strategy on insider trading profitability 2019transfer abstract 13 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. Keung, Edmund C. oth Enthalten in Elsevier Xiao, Wenchao ELSEVIER Semi-supervised hierarchical clustering ensemble and its application 2016transfer abstract Amsterdam [u.a.] (DE-627)ELV014238179 volume:55 year:2019 pages:270-282 extent:13 https://doi.org/10.1016/j.pacfin.2019.04.007 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 35.70 Biochemie: Allgemeines VZ 42.12 Biophysik VZ AR 55 2019 270-282 13 |
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10.1016/j.pacfin.2019.04.007 doi GBV00000000000723.pica (DE-627)ELV046888330 (ELSEVIER)S0927-538X(18)30303-2 DE-627 ger DE-627 rakwb eng 610 VZ 570 VZ BIODIV DE-30 fid 35.70 bkl 42.12 bkl Chen, Guang-Zheng verfasserin aut The impact of business strategy on insider trading profitability 2019transfer abstract 13 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. Keung, Edmund C. oth Enthalten in Elsevier Xiao, Wenchao ELSEVIER Semi-supervised hierarchical clustering ensemble and its application 2016transfer abstract Amsterdam [u.a.] (DE-627)ELV014238179 volume:55 year:2019 pages:270-282 extent:13 https://doi.org/10.1016/j.pacfin.2019.04.007 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 35.70 Biochemie: Allgemeines VZ 42.12 Biophysik VZ AR 55 2019 270-282 13 |
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10.1016/j.pacfin.2019.04.007 doi GBV00000000000723.pica (DE-627)ELV046888330 (ELSEVIER)S0927-538X(18)30303-2 DE-627 ger DE-627 rakwb eng 610 VZ 570 VZ BIODIV DE-30 fid 35.70 bkl 42.12 bkl Chen, Guang-Zheng verfasserin aut The impact of business strategy on insider trading profitability 2019transfer abstract 13 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. Keung, Edmund C. oth Enthalten in Elsevier Xiao, Wenchao ELSEVIER Semi-supervised hierarchical clustering ensemble and its application 2016transfer abstract Amsterdam [u.a.] (DE-627)ELV014238179 volume:55 year:2019 pages:270-282 extent:13 https://doi.org/10.1016/j.pacfin.2019.04.007 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 35.70 Biochemie: Allgemeines VZ 42.12 Biophysik VZ AR 55 2019 270-282 13 |
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10.1016/j.pacfin.2019.04.007 doi GBV00000000000723.pica (DE-627)ELV046888330 (ELSEVIER)S0927-538X(18)30303-2 DE-627 ger DE-627 rakwb eng 610 VZ 570 VZ BIODIV DE-30 fid 35.70 bkl 42.12 bkl Chen, Guang-Zheng verfasserin aut The impact of business strategy on insider trading profitability 2019transfer abstract 13 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. Keung, Edmund C. oth Enthalten in Elsevier Xiao, Wenchao ELSEVIER Semi-supervised hierarchical clustering ensemble and its application 2016transfer abstract Amsterdam [u.a.] (DE-627)ELV014238179 volume:55 year:2019 pages:270-282 extent:13 https://doi.org/10.1016/j.pacfin.2019.04.007 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 35.70 Biochemie: Allgemeines VZ 42.12 Biophysik VZ AR 55 2019 270-282 13 |
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10.1016/j.pacfin.2019.04.007 doi GBV00000000000723.pica (DE-627)ELV046888330 (ELSEVIER)S0927-538X(18)30303-2 DE-627 ger DE-627 rakwb eng 610 VZ 570 VZ BIODIV DE-30 fid 35.70 bkl 42.12 bkl Chen, Guang-Zheng verfasserin aut The impact of business strategy on insider trading profitability 2019transfer abstract 13 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. Keung, Edmund C. oth Enthalten in Elsevier Xiao, Wenchao ELSEVIER Semi-supervised hierarchical clustering ensemble and its application 2016transfer abstract Amsterdam [u.a.] (DE-627)ELV014238179 volume:55 year:2019 pages:270-282 extent:13 https://doi.org/10.1016/j.pacfin.2019.04.007 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 35.70 Biochemie: Allgemeines VZ 42.12 Biophysik VZ AR 55 2019 270-282 13 |
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This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. |
abstractGer |
This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. |
abstract_unstemmed |
This study examines the relationship between business strategy and the trading profits earned by corporate insiders. Firms following prospector and defender strategies have different objectives and different firm characteristics, which affects the level of information asymmetry that can be used advantageously by insiders. Based on a sample of Chinese-listed firms from 2012 through 2015, we find that the profitability of trading by insiders at prospector firms is higher than the profitability of trading by insiders at defender firms. Additional analyses reveal that this finding is primarily attributed to insider sales and male insider trades and that it is also driven by firms not subject to trade restrictions and family-controlled firms. Identifying business strategies used by firms where insiders' trades are more profitable could be relevant to regulators. |
collection_details |
GBV_USEFLAG_U GBV_ELV SYSFLAG_U FID-BIODIV SSG-OLC-PHA GBV_ILN_30 GBV_ILN_40 |
title_short |
The impact of business strategy on insider trading profitability |
url |
https://doi.org/10.1016/j.pacfin.2019.04.007 |
remote_bool |
true |
author2 |
Keung, Edmund C. |
author2Str |
Keung, Edmund C. |
ppnlink |
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hochschulschrift_bool |
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doi_str |
10.1016/j.pacfin.2019.04.007 |
up_date |
2024-07-06T21:24:13.874Z |
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