Information Asymmetry, R & D, And Insider Gains  

Oleh:

Lev, Baruch ; Aboody, David

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 55 no. 6 (2000), page 2747-2766.
Topik: information asymmetry; research & development; R & D; securities markets; insider trading; hypotheses; studies
Fulltext: p 2747.pdf (113.27KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Although researchers have documented gains from insider trading, the sources of private information leading to information asymmetry and insider gains have not been comprehensively investigated. We focus on research and development (R & D) an increasingly important yet poorly disclosed productive input - as a potential source of insider gains. Our findings, for the period from 1985 to 1997 indicate that insider gains in R & D intensive firms are substantially larger than insider gains in firms without R & D. Insiders also take advantage of information on planned changes in R & D budgets. R & D is thus a major contributor to information asymmetry, incentives and disclosure plicies.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali