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Insynshandel - En falsk signal?: Eventstudie av insynshandel på stockholmsbörsen
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Karlstad Business School (from 2013).
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Karlstad Business School (from 2013).
2023 (Swedish)Independent thesis Advanced level (professional degree), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

In all listed companies, there are people who have close ties to the business, either as employees or directors, or indirectly through relationships with the company. Such individuals are usually named as insiders and often have information about the company's prospects that has not yet been made public or reflected in the stock's price. This information asymmetry between insiders and external investors can create a signal value when insiders trade in the company's stock. The interpretation and valuation of insider trading by external investors can then affect the share price, both positively or negatively depending on the type of trade.Previous studies show different results regarding whether insider trading generates abnormal returns or not. Some studies have shown that there is no systematic profitability in following insider trading, while others have shown that it can generate an abnormal return.The purpose of this study is to investigate whether insider trading generates abnormal returns and to investigate whether the abnormal return differs depending on position, year and transaction type. The study is conducted in the form of an event study to investigate the effect that insider trading has on a company's share price. The results of this study show that insider trading does not generate any abnormal return for the event period or for the event day, but that there are significant differences in CAAR between buy and sell transactions. The result also shows that there is no difference in abnormal returns between different positions or between different years.

Place, publisher, year, edition, pages
2023. , p. 55
Keywords [sv]
AAR, abnormal avkastning, CAAR, eventstudie, Insynshandel
National Category
Economics
Identifiers
URN: urn:nbn:se:kau:diva-95444OAI: oai:DiVA.org:kau-95444DiVA, id: diva2:1770170
Subject / course
Economics
Educational program
Programme in Business and Economics
Supervisors
Examiners
Available from: 2023-06-21 Created: 2023-06-19 Last updated: 2023-06-21Bibliographically approved

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fulltext(679 kB)6 downloads
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File name FULLTEXT02.pdfFile size 679 kBChecksum SHA-512
273b695d9a7ded64e6f49e6d1d02957ae91ddf5dc04a94f85fa9f8248ad2fabc53d29704e489aaf82e2e1e4f3ad0ec8a337eb77f19ccf90f312e11109d84c40f
Type fulltextMimetype application/pdf

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Karlstad Business School (from 2013)
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CiteExportLink to record
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Citation style
  • apa
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