scholarly journals Aggregate insider trading and future market returns in the United States , Europe, and Asia

Author(s):  
Dennis D. Malliouris ◽  
Alphons T. Vermorken ◽  
Maximilian A.M. Vermorken
AERA Open ◽  
2019 ◽  
Vol 5 (3) ◽  
pp. 233285841987405
Author(s):  
Lauren Schudde ◽  
Kaitlin Bernell

Although decades of research highlight the impact of schooling on earnings, less evidence exists regarding other employment outcomes. Nonwage labor market returns to education are important in the United States, where health insurance and retirement income are typically tied to employment. Using longitudinal, nationally representative data, we examine the role of educational attainment in predicting nonwage employment outcomes and control for a host of individual and institutional measures. Even after controlling for individual and institutional characteristics, results indicate that educational attainment predicts employment and markers of “good” jobs, like access to employer-provided health and dental insurances, retirement plans, and paid leave. Furthermore, by delineating between various subbaccalaureate levels of college attainment, our results illustrate the complex variation in returns to college for those who did not complete a 4-year degree.


2009 ◽  
Vol 69 (4) ◽  
pp. 1107-1137 ◽  
Author(s):  
Graeme G. Acheson ◽  
Charles R. Hickson ◽  
John D. Turner ◽  
Qing Ye

This article presents a new series of monthly equity returns for the British stock market for the period 1825-1870. In addition to calculating capital appreciation and dividend yields, the article also estimates the effect of survivorship bias on returns. Three notable findings emerge from this study. First, stock market returns in the 1825-1870 period are broadly similar for Britain and the United States, although the British market is less risky. Second, real returns in the 1825-1870 period are higher than in subsequent epochs of British history. Third, unlike the modern era, dividends are the most important component of returns.


2016 ◽  
Vol 44 (1) ◽  
pp. 89-102
Author(s):  
Sujung Choi

I investigated whether or not social mood is associated with the financial decisions of market participants in the United States, using the monthly suicide rate to represent the degree of negative social mood in a society. From monthly suicide data collected over the period from January 1981 through to December 2012, I found that suicide rates are associated with stock market returns, in aggregate. Specifically, suicide rates predicted future stock market returns, showing contemporaneous and lagged relationships with U.S. stock market returns. Furthermore, small-cap stocks were found to be more likely to be affected by suicide rates than were large-cap stocks. Female suicide rates had a stronger effect on market returns than male suicide rates did, suggesting that this suicide effect is not induced by economic reasons but, rather, is related to emotional factors (e.g., investor mood).


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