Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/30356
Title: Insider trading activities before the simultaneous announcements of earnings and dividends
Authors: Cheng, LTW 
Szeto, RWF
Leung, TY
Keywords: Dividends
Earnings management
Insider trading
Issue Date: 2005
Source: Review of Pacific basin financial markets and policies, 2005, v. 8, no. 2, p. 279-307 How to cite?
Journal: Review of Pacific Basin Financial Markets and Policies 
Abstract: We employ a sample of 3,177 events from Hong Kong industrial firms during the 1993-1999 period to examine insider trading activities around earnings and dividends announcements. By controlling for earnings management, special dividends, and other firm level financial indicators, we find that the presence of insider trading, its trading direction, and its trading intensity are related to the signals of these simultaneous earnings and dividends announcements. Various tests show that our findings are robust regardless of the proxies used for measuring insider trading activities, earnings, and dividend changes.
URI: http://hdl.handle.net/10397/30356
ISSN: 0219-0915
DOI: 10.1142/S0219091505000385
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