Shareholder authorized inside trading: A legal and moral analysis

1990 ◽  
Vol 9 (12) ◽  
pp. 913-928 ◽  
Author(s):  
Bill Shaw
Keyword(s):  
Inside Trading

Do RRA Earnings Improve the Usefulness of Reported Earnings in Reflecting the Performance of Oil and Gas Producing Firms?

1992 ◽  
Vol 7 (3) ◽  
pp. 335-356 ◽  
Author(s):  
Dennis T. Kennedy ◽  
Yong-Ha Hyon
Keyword(s):  
Stock Prices ◽  
Oil And Gas ◽  
Abnormal Returns ◽  
Volatile Oil ◽  
Inside Trading ◽  
Factors Affecting ◽  
Trading Model ◽  
Annual Earnings ◽  
Reported Earnings ◽  
Advance Knowledge

This study employs a regression model and an inside-trading model to evaluate whether three component values of the Reserve Recognition Accounting (RRA) Supplemental Earnings Summary improve the extent to which reported earnings reflect factors affecting stock prices. The analysis is conducted for the 1979-1980 period of volatile oil prices, when the events that the RRA Earnings Summary was designed to reflect (exploration and discovery) were more likely to be significant. Results from the regression analysis indicate that RRA earnings variables make a significant incremental contribution to explaining the variance in abnormal returns accumulated over the fiscal years described by the annual earnings values. Results from an inside-trading model indicate that advance knowledge of RRA earnings would be more useful to an investor than advance knowledge of the traditional historical cost earnings. The implication of these results is that data from the RRA Supplemental Earnings Summary improve the usefulness of reported earnings in reflecting the performance of oil and gas producing firms.

scholarly journals Stock Liquidity and Frim Investment—Evidence from Chinese Listed Companies*

2016 ◽  
Vol 4 (1) ◽  
pp. 25
Author(s):  
Jiacai Xiong
Keyword(s):  
Information Disclosure ◽  
Firm Growth ◽  
Capital Allocation ◽  
Inside Trading ◽  
Chinese Government ◽  
Firm Investment ◽  
Stock Liquidity ◽  
Good Investment ◽  
Investment Opportunities ◽  
The Relationship

<p><em>From the perspective of market microstructure, this paper investigates the relationship between stock liquidity, firm investment and capital allocation efficiency. This paper finds that firm investment is positively related to stock liquidity. Moreover, financial constraint, firm growth and risk affect the relationship between firm investment and stock liquidity. In addition, stock liquidity can help firm better utilize investment opportunities, indicated by higher investment and Tobin’ Q sensitivities. We also show that firms with good liquidity can lower the investment and Tobin’s Q sensitivities when there are no good investment opportunities. The findings of this paper indicate that stock liquidity have positive effect on firm investment. Therefore, </em><em>to strengthen the effectiveness of stock liquidity, the Chinese government should continue to reform ownership structure and corporate governance, strengthen information disclosure and stepped up its crackdown against inside trading.</em></p>

scholarly journals Hedging and non-hedging trading strategies on commodities using the d-Backtest PS method. Optimized trading system hedging

2018 ◽  
Vol 15 (3) ◽  
pp. 351-369 ◽  
Author(s):  
Dimitrios Th. Vezeris ◽  
Themistoklis S. Kyrgos ◽  
Christos J. Schinas
Keyword(s):  
High Frequency ◽  
Price Level ◽  
Parameters Optimization ◽  
Inside Trading ◽  
Weak Correlation ◽  
Hedging Strategy ◽  
Trading System ◽  
Trading Systems ◽  
Time Period ◽  
Technical Indicator

Modern trading systems are mechanic, run automatically on computers inside trading platforms and decide their position against the market through optimized parameters and algorithmic strategies. These systems now, in most cases, comprise high frequency traders, especially in the Forex market.In this research, a piece of software of an automatic high frequency trading system was developed, based on the technical indicator PIVOT (price level breakthrough). The system made transactions on hourly closing prices with weekly parameters optimization period, using the d-Backtest PS method.Through the search and checking of the results, two findings for optimization of trading strategy were found. These findings with the order they were examined and are presented in this paper are as follows: (1) the simultaneous use of “long and short” positions, with different parameters in a hedging account, acts as a hedging strategy, minimizing losses, in relation to a “long or short” in a non-hedging account for the same time period and (2) there is weak correlation of past backtesting periods between the same systems, if they are configured for “long and short” trades, or for just “long” or for just “short”.

Inside Trading and Incentives

1984 ◽  
Vol 57 (3) ◽  
pp. 295 ◽  
Author(s):  
Ronald A. Dye
Keyword(s):  
Inside Trading

scholarly journals Inside trading

Nature ◽  
1989 ◽  
Vol 341 (6240) ◽  
pp. 354-354
Author(s):  
R. J. P. Williams
Keyword(s):  
Inside Trading
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