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Equity Purchases by Insiders and the Filing of Antidumping Petitions

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  • James C. Hartigan
  • Cynthia L. Rogers

Abstract

The paper presents the first analysis of insider trading in the context of public policy implementation. The Securities and Exchange Commission (SEC) proscribes trading by corporate insiders upon material information that is not yet in the public domain. Although the SEC interprets what constitutes material information, it has historically focused on earnings, mergers, and acquisitions. Using a panel of US firms from 1985–87, the authors disclose a significant relationship between the filing of an antidumping petition and insider buying in the two months preceding the filing month. This suggests that the SEC should expand its focus to include public policy.

Suggested Citation

  • James C. Hartigan & Cynthia L. Rogers, 2003. "Equity Purchases by Insiders and the Filing of Antidumping Petitions," Review of International Economics, Wiley Blackwell, vol. 11(5), pages 789-810, November.
    • Handle: RePEc:bla:reviec:v:11:y:2003:i:5:p:789-810
    DOI: 10.1046/j.1467-9396.2003.00418.x
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    References listed on IDEAS

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    1. Robert W. Staiger & Frank A. Wolak, 1994. "Measuring Industry-Specific Protection: Antidumping in the United States," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(1994 Micr), pages 51-118.
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    Cited by:

    1. Basyah, Mohammad & Hartigan, James C., 2007. "Analyst earnings forecast revisions and the persistence of antidumping relief," International Review of Economics & Finance, Elsevier, vol. 16(3), pages 383-399.

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