Insightful Insiders? Insider Trading and Stock Return Around Debt Covenant Violation Disclosures

About this item

Title

Insightful Insiders? Insider Trading and Stock Return Around Debt Covenant Violation Disclosures

Content partner

Victoria University of Wellington

Collection

VUW ResearchArchive

Description

This paper documents significant trading by insiders around a first-time debt covenant violation disclosure in an SEC filing and is interesting from a research and regulatory standpoint because of three considerations - delay and relative infrequency of new covenant violation disclosures lack of attention to disclosure issues by regulators and dearth of research. Importantly we find a lead relation between net insider selling in the 12 months before a debt covenant violation disclosure and in...

Read more

Format

Research paper

Research format

Scholarly text

Date created

2011

Creator

Lont, David / Griffin, Paul / McClune, Kate

URL

http://researcharchive.vuw.ac.nz/handle/10063/4088

Related subjects

insider trading / debt covenant violation disclosure / SEC regulation / insider trading enforcement / event study

What is the copyright status of this item?

All Rights Reserved

This item is all rights reserved, which means you'll have to get permission from Victoria University of Wellington before using it.

More Information

Victoria University of Wellington has this to say about the rights status of this item:

Permission to publish research outputs of the New Zealand Institute for the Study of Competition and Regulation has been granted to the Victoria University of Wellington Library. Refer to the permission letter in record: http://researcharchive.vuw.ac.nz/handle/10063/3777

What can I do with this item?

You must always check with Victoria University of Wellington to confirm the specific terms of use, but this is our understanding:

Non-infringing use

NZ Copyright law does not prevent every use of a copyright work. You should consider what you can and cannot do with a copyright work.

No sharing

You may not copy and/or share this item with others without further permission. This includes posting it on your blog, using it in a presentation, or any other public use.

No modifying

You are not allowed to adapt or remix this item into any other works.

No commercial use

You may not use this item commercially.