Bibliographic Details
| Title: |
Good (Bad) News and the Probability of Informed Trading: Evidence from Illegal Insider Trading. |
| Authors: |
Su, Shunyu1 (AUTHOR), Sha, Yezhou1 (AUTHOR) shayezhou@cueb.edu.cn |
| Superior Title: |
Emerging Markets Finance & Trade. 2024, Vol. 60 Issue 5, p1077-1086. 10p. |
| Subject Terms: |
*INSIDER trading in securities, *PROBABILITY theory, *PERSONAL identification numbers |
| Abstract: |
We present a closed-form solution connecting the probability of informed trading ($PIN$ PIN) to the overlooked parameter that signaling private information is good or bad. Estimating $PIN$ PIN using illegal insider trading data, we find it sensitive to the certainty of positive private information in addition to the existed explanations, offering a new explanation for $PIN$ PIN 's limitations in prior literature. [ABSTRACT FROM AUTHOR] |
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| Database: |
Business Source Premier |
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