How directors trade and learn during takeovers

Millicent Chang, Jing Yu and William Adamson

Pacific-Basin Finance Journal, 2018, vol. 51, issue C, 184-197

Abstract: •Compared to schemes, target directors engage in less buying in bids•Compared to schemes, acquirer directors engage in less selling in bids•Payment method does not affect preannouncement director trading•Directors learn from market reaction and target director trading in bid withdrawal

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:51:y:2018:i:c:p:184-197

DOI: 10.1016/j.pacfin.2018.07.001

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