The Information-convey Effect from the Change in the Insider's Stock Holdings
碩士 === 朝陽科技大學 === 財務金融系碩士班 === 90 === The purpose of this study is to examine the shareholders’ wealth effect and information-convey effect from the announcement of the change in the insider’s stock holdings. The time period for this study runs from January, 1995 to December, 1999,and employ Event S...
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Other Authors: | |
Format: | Others |
Language: | zh-TW |
Published: |
2002
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Online Access: | http://ndltd.ncl.edu.tw/handle/00490273883116444834 |
Summary: | 碩士 === 朝陽科技大學 === 財務金融系碩士班 === 90 === The purpose of this study is to examine the shareholders’ wealth effect and information-convey effect from the announcement of the change in the insider’s stock holdings. The time period for this study runs from January, 1995 to December, 1999,and employ Event Study method. The company public forecast is employed as the proxy for the future earnings. We find that the change in the insider’s stock holdings have negative shareholders’ wealth effect. Also the change in the insider’s stock holdings convey future negative information prospects.
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