UK Directors Trading: The Impact of Dealings in Smaller Firms

John Matatko, Alan Gregory, Ian Tonks and Richard Purkis

FMG Discussion Papers from Financial Markets Group

Abstract: This paper reassesses the UK results of significant abnormal returns from directors trading for a new sample of directors trades 1984-1988, and finds that abnormal returns tend to be concentrated in smaller firms. When an appropriate benchmark portfolio is used, it is found that the significance of the abnormal returns is substantially reduced. The implication is that after allowing for a size effect, directors trading does not yield particularly high profits to either the directors themselves or to any outside investors mimicking those directors trades.

Date: 1993-05
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.lse.ac.uk/fmg/workingPapers/discussionPapers/fmg_pdfs/dp160.pdf (application/pdf)

Related works:
Journal Article: UK Directors' Trading: The Impact of Dealings in Smaller Firms (1994)
Working Paper: UK directors' trading: the impact of dealings in smaller firms (1993)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fmg:fmgdps:dp160

Access Statistics for this paper

More papers in FMG Discussion Papers from Financial Markets Group
Bibliographic data for series maintained by The FMG Administration ().