The Diagnosis of the Insider Trading During the Conflict of Shareholders of “VimpelCom” in 2005-2013

Диагностирование инсайдерской торговли в период конфликта акционеров ОАО «ВымпелКом» в 2005—2013 годах

Chirkova, Elena (Чиркова, Елена) () and Petrov, Vladislav (Петров, Владислав) ()
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Chirkova, Elena (Чиркова, Елена): Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Petrov, Vladislav (Петров, Владислав): Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Ekonomicheskaya Politika / Economic Policy, 2015, vol. 2, 151-173

Abstract: This article presents the results of a study of insider trading during the corporate conflict of shareholders of OJSC “VimpelCom”. The study is based on an analysis of cumulative abnormal returns during the period prior to the publication of a news. In the study we analyzed 80 news about the conflict of shareholders of OJSC “VimpelCom” in 2005-2013 years. We found insider trading prior to the public statements made by “Alfa Group” representatives but not by Telenor officials. We have found the presence of a large-scale insider trading prior to the publication of the news about the courts verdicts of the Russian courts and news about government pressure.

Keywords: insider trading; cumulative abnormal return; shareholders’ conflict (search for similar items in EconPapers)
JEL-codes: G10 G14 G19 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:ecopol:ep1522

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