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Impact of insider trading behavior in investment strategy performance
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Orientador(es)
Resumo(s)
Since mid-2003, the Securities and Exchange Commission (SEC) has made corporate insider
filings available in a structured way, allowing for wider access and research. Despite several
studies aimed at assessing whether corporate insiders can earn excessive returns, it remains
unclear as whether non-insiders can do it by solely looking at corporate insider behavior. Using
structured data from corporate insider filings over the period 2003-2022, this study aims at
understanding whether a real, replicable, profitable investment strategy can be derived from
using both corporate insider purchases and sales, with additional help of some select filters.
Descrição
Palavras-chave
Insider transactions Investment strategy Portfolio returns Portfolio strategy Market efficiency S&P500 Stock market Financial markets