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West Ashley Library
9 a.m. - 5 p.m.
Phone: (843) 766-6635
Wando Mount Pleasant Library
9 a.m. - 5 p.m.
Phone: (843) 805-6888
Village Library
9 a.m. - 1 p.m.
Phone: (843) 884-9741
St. Paul's/Hollywood Library
9 a.m. - 5 p.m.
Phone: (843) 889-3300
Otranto Road Library
9 a.m. - 5 p.m.
Phone: (843) 572-4094
Mt. Pleasant Library
9 a.m. – 5 p.m.
Phone: (843) 849-6161
McClellanville Library
9 a.m. – 1 p.m.
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Keith Summey North Charleston Library
9 a.m. - 5 p.m.
Phone: (843) 744-2489
John's Island Library
9 a.m. - 5 p.m.
Phone: (843) 559-1945
Hurd/St. Andrews Library
9 a.m. - 5 p.m.
Phone: (843) 766-2546
Folly Beach Library
9 a.m. - 2 p.m.
*open the 2nd and 4th Saturday
*open the 2nd and 4th Saturday
Phone: (843) 588-2001
Dorchester Road Library
9 a.m. - 5 p.m.
Phone: (843) 552-6466
John L. Dart Library
9 a.m. - 5 p.m.
Phone: (843) 722-7550
Bees Ferry West Ashley Library
9 a.m. - 5 p.m.
Phone: (843) 805-6892
Baxter-Patrick James Island
9 a.m. - 5 p.m.
Phone: (843) 795-6679
Miss Jane's Building (Edisto Library Temporary Location)
Closed
Phone: (843) 869-2355
Edgar Allan Poe/Sullivan's Island Library
Closed for renovations
Phone: (843) 883-3914
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Phone: (843) 805-6930
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Phone: (843) 805-6909
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Insider Trading, Analysts' Forecast Revisions, and Earnings Changes.
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- Author(s): Sivakumar, Kumar; Vijayakumar, Jayaraman
- Source:
Journal of Accounting, Auditing & Finance; Spring2001, Vol. 16 Issue 2, p167-187, 21p, 5 Charts- Subject Terms:
- Source:
- Additional Information
- Abstract: We provide evidence that insider trading contains value-relevant information by examining the association of insider trading with subsequent earnings changes and analysts' forecast revisions. Using a sample of 93,036 observations for 2,181 firms during 1986-1991, we document significant associations between insider trading and short (one-year-ahead) and longer term (two- and three-years-ahead) earnings changes, and between insider trading and analysts' forecast revisions, showing that insider trading contains value-relevant information. Our results also suggest that when insider trading is in the direction of the unexpected earnings news (i.e., insider purchases following good earnings news and sales following bad news), insiders may be acting on value-relevant private information. When insider trading is in a direction contrary to the earnings news, these trades appear to be motivated by the insiders' recognition of the market mispricing of their securities. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Journal of Accounting, Auditing & Finance is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Abstract:
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