IDEAS home Printed from https://ideas.repec.org/h/eme/afeczz/s1569-3732(04)11006-2.html
   My bibliography  Save this book chapter

The Impact Of Regulatory Change On Insider Trading Profitability: Some Early Evidence From New Zealand

In: Corporate Governance

Author

Listed:
  • Aaron Gilbert
  • Alireza Tourani-Rad
  • Tomasz Piotr Wisniewski

Abstract

This paper adds to the scant literature on the tightening of regulations and its impact on the profitability of insider trades by examining the effects of the recent enactment of the Securities Market Amendment Act 2002 in New Zealand. We investigate the abnormal returns around the date of insider transactions both before and after the introduction of this Act. We find that the number of insider transactions decreased just prior to the introduction of the Act; further we observe a marked reduction in the profitability of directors. However, the difference between the pre and post-change returns lacks statistical significance.

Suggested Citation

  • Aaron Gilbert & Alireza Tourani-Rad & Tomasz Piotr Wisniewski, 2005. "The Impact Of Regulatory Change On Insider Trading Profitability: Some Early Evidence From New Zealand," Advances in Financial Economics, in: Corporate Governance, pages 109-126, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:afeczz:s1569-3732(04)11006-2
    DOI: 10.1016/S1569-3732(04)11006-2
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1016/S1569-3732(04)11006-2/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1016/S1569-3732(04)11006-2/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1016/S1569-3732(04)11006-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:afeczz:s1569-3732(04)11006-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.