Profitability of insider trading in Turkey

References

• Akın, Özlem, and Gozde Esen. 2019. “An Overview of Insider Trading in Borsa Istanbul.” Journal of Research in Economics 3: 76–90. doi:10.35333/JORE.2019.49.
   Google Scholar
• Avci, S. Burcu, Cindy A. Schipani, and H. Nejat Seyhun. 2018a. “Eliminating Conflicts of Interests in Banks: The Significance of the Volcker Rule.” Yale Journal on Regulation 35 (2): 343–381.
   Web of Science ®Google Scholar
• Avci, S. Burcu, Cindy A. Schipani, and H. Nejat Seyhun. 2018b. “The Elusive Monitoring Function of Independent Directors.” University of Pennsylvania Journal of Business Law 21 (2): 235–287.
   Google Scholar
• Avci, S. Burcu, and H. Nejat Seyhun. 2017. “Why Don't General Counsels Stop Corporate Crime?” University of Pennsylvania Journal of Business Law 3 (19): 751–807.
   Google Scholar
• Baesel, Jerome B., and Garry R. Stein. 1979. “The Value of Information: Inferences from the Profitability of Insider Trading.” The Journal of Financial and Quantitative Analysis 14 (3): 553–571. doi:10.2307/2330188.
   Web of Science ®Google Scholar
• Bajo, Emanuele, and Barbara Petracci. 2006. “Do What Insiders do.” Studies in Economics and Finance 23 (2): 94–118. doi:10.1108/10867370610683905.
   Google Scholar
• Betzer, André, and Erik Theissen. 2009. “Insider Trading and Corporate Governance: The Case of Germany.” European Financial Management 15 (2): 402–429. doi:10.1111/j.1468-036X.2007.00422.x.
   Web of Science ®Google Scholar
• Bhattacharya, Utpal, and Hazem Daouk. 2002. “The World Price of Insider Trading.” The Journal of Finance 57 (1): 75–108. doi:10.1111/1540-6261.00416.
   Web of Science ®Google Scholar
• Brunnermeier, Markus K. 2005. “Information Leakage and Market Efficiency.” The Review of Financial Studies 18 (2): 417–457. doi:10.1093/rfs/hhi015.
   Web of Science ®Google Scholar
• Budsaratragoon, Pornanong, David Hillier, and Suntharee Lhaopadchan. 2012. “Applying Developed-Country Regulation in Emerging Markets: An Analysis of Thai Insider Trading.” Accounting & Finance 52 (4): 1013–1039. doi:10.1111/j.1467-629X.2011.00465.x.
   Web of Science ®Google Scholar
• Chauhan, Yogesh, K. Kiran Kumar, and Chakrapani Chaturvedula. 2016. “Information Asymmetry and the Information Content of Insider Trades: Evidence from the Indian Stock Market.” Journal of Multinational Financial Management 34: 65–79. doi:10.1016/j.mulfin.2015.12.003.
   Web of Science ®Google Scholar
• Cziraki, Peter, and Jasmin Gider. 2021. “The Dollar Profits to Insider Trading*.” Review of Finance 25 (5): 1547–1580. doi:10.1093/rof/rfab010.
   Web of Science ®Google Scholar
• Daniel, Kent, David Hirshleifer, and Avanidhar Subrahmanyam. 1998. “Investor Psychology and Security Market Under- and Overreactions.” Journal of Finance (Wiley-Blackwell) 53 (6): 1839–1885. doi:10.1111/0022-1082.00077.
   Web of Science ®Google Scholar
• Del Brio, Esther B., Alberto Miguel, and Javier Perote. 2002. “An Investigation of Insider Trading Profits in the Spanish Stock Market.” The Quarterly Review of Economics and Finance 42 (1): 73–94. doi:10.1016/S1062-9769(01)00103-X.
   Google Scholar
• Doğu, Murat, Semra Karacaer, and Mehmet Baha Karan. 2010. “Empirical Testing of Insider Trading in the Istanbul Stock Exchange.” International Research Journal of Finance and Economics 51: 97–107.
   Google Scholar
• Dragota, Victor, and Ruxandra Trifan. 2020. “Insiders and Systematic Abnormal Returns - A Case Study on the Romanian Capital Market.” Bulletin of the Transilvania University of Braşov, Series V - Economic Sciences 13 (62): 73–84. doi:10.31926/but.es.2020.13.62.1.9.
   Google Scholar
• Dymke, Björn M., and Andreas Walter. 2008. “Insider Trading in Germany — Do Corporate Insiders Exploit Inside Information?” Business Research 1 (2): 188–205. doi:10.1007/BF03343533.
   Google Scholar
• Eckbo, B. Espen, and David C. Smith. 1998. “The Conditional Performance of Insider Trades.” Journal of Finance (Wiley-Blackwell) 53 (2): 467–498. doi:10.1111/0022-1082.205263.
   Web of Science ®Google Scholar
• Fama, Eugene F., and Kenneth R. French. 1993. “Common Risk Factors in the Returns on Stocks and Bonds.” Journal of Financial Economics 33 (1): 3–56. doi:10.1016/0304-405X(93)90023-5.
   Web of Science ®Google Scholar
• Fama, Eugene F., and Kenneth R. French. 2015. “A Five-Factor Asset Pricing Model.” Journal of Financial Economics 116 (1): 1–22. doi:10.1016/j.jfineco.2014.10.010.
   Web of Science ®Google Scholar
• Fidrmuc, Jana, P. Marc Goergen, and Luc Renneboog. 2006. “Insider Trading, News Releases, and Ownership Concentration.” The Journal of Finance 61 (6): 2931–2973. doi:10.1111/j.1540-6261.2006.01008.x.
   Web of Science ®Google Scholar
• Finnerty, Joseph E. 1976. “Insiders and Market Efficiency.” The Journal of Finance 31 (4): 1141–1148. doi:10.2307/2326279.
   Web of Science ®Google Scholar
• Friederich, Sylvain, Alan Gregory, John Matatko, and Ian Tonks. 2002. “Short-run Returns Around the Trades of Corporate Insiders on the London Stock Exchange.” European Financial Management 8 (1): 7–30. doi:10.1111/1468-036X.00174.
   Google Scholar
• Gębka, Bartosz, Adriana Korczak, Piotr Korczak, and Jędrzej Traczykowski. 2017. “Profitability of Insider Trading in Europe: A Performance Evaluation Approach.” Journal of Empirical Finance 44: 66–90. doi:10.1016/j.jempfin.2017.08.001.
   Web of Science ®Google Scholar
• Gilbert, Aaron, and Alireza Tourani-Rad. 2008. “The Impact of Regulations on the Informational Basis of Insider Trading.” Australian Journal of Management 33 (2): 407–435. doi:10.1177/031289620803300210.
   Web of Science ®Google Scholar
• Gurgul, Henryk, and Paweł Majdosz. 2007. “The Informational Content of Insider Trading Disclosures: Empirical Results for the Polish Stock Market.” Central European Journal of Operations Research 15 (1): 1–19. doi:10.1007/s10100-006-0016-5.
   Web of Science ®Google Scholar
• He, Qing, and Oliver M. Rui. 2016. “Ownership Structure and Insider Trading: Evidence from China.” Journal of Business Ethics 134 (4): 553–574. doi:10.1007/s10551-014-2384-4.
   Web of Science ®Google Scholar
• Hirshleifer, David, Avanidhar Subrahmanyam, and Sheridan Titman. 1994. “Security Analysis and Trading Patterns When Some Investors Receive Information Before Others.” The Journal of Finance 49 (5): 1665–1698. doi:10.2307/2329267.
   Web of Science ®Google Scholar
• Iqbal, Zahid, and Shekar Shetty. 2002. “An Investigation of Causality between Insider Transactions and Stock Returns.” The Quarterly Review of Economics and Finance 42 (1): 41–57. doi:10.1016/S1062-9769(01)00114-4.
   Google Scholar
• Jaffe, Jeffrey F. 1974a. “The Effect of Regulation Changes on Insider Trading.” The Bell Journal of Economics and Management Science 5 (1): 93–121. doi:10.2307/3003094.
   Google Scholar
• Jaffe, Jeffrey F. 1974b. “Special Information and Insider Trading.” The Journal of Business 47 (3): 410–428. doi:10.1086/295655.
   Google Scholar
• Jaggi, Bikki, and Judy Tsui. 2007. “Insider Trading, Earnings Management and Corporate Governance: Empirical Evidence Based on Hong Kong Firms.” Journal of International Financial Management & Accounting 18 (3): 192–222. doi:10.1111/j.1467-646X.2007.01012.x.
   Google Scholar
• Jeng, Leslie A., Andrew Metrick, and Richard Zeckhauser. 2003. “Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective.” The Review of Economics and Statistics 85 (2): 453–471. doi:10.1162/003465303765299936.
   Web of Science ®Google Scholar
• John, Kose, and Larry H. P. Lang. 1991. “Insider Trading Around Dividend Announcements: Theory and Evidence.” The Journal of Finance 46 (4): 1361–1389. doi:10.1111/j.1540-6261.1991.tb04621.x.
   Web of Science ®Google Scholar
• King, Mervyn, and Ailsa Roell. 1988. “Insider Trading.” Economic Policy 3 (6): 163–193. doi:10.2307/1344507.
   Google Scholar
• Lakonishok, Josef, and Inmoo Lee. 2015. “Are Insider Trades Informative?” The Review of Financial Studies 14 (1): 79–111. doi:10.1093/rfs/14.1.79.
   Google Scholar
• Lin, Ji-Chai, and John S. Howe. 1990. “Insider Trading in the OTC Market.” The Journal of Finance 45 (4): 1273–1284. doi:10.2307/2328724.
   Web of Science ®Google Scholar
• Narayanan, M. P., and H. Nejat Seyhun. 2008. “The Dating Game: Do Managers Designate Option Grant Dates to Increase Their Compensation?” Review of Financial Studies 21 (5): 1908–1945. doi:10.1093/rfs/hhm044.
   Web of Science ®Google Scholar
• Ofek, Eli, and David Yermack. 2000. “Taking Stock: Equity-Based Compensation and the Evolution of Managerial Ownership.” Journal of Finance (Wiley-Blackwell) 55 (3): 1367–1384. doi:10.1111/0022-1082.00250.
   Web of Science ®Google Scholar
• Pettit, R. Richardson, and P. C. Venkatesh. 1995. “Insider Trading and Long-Run Return Performance.” Financial Management 24 (2): 88–103. doi:10.2307/3665537.
   Web of Science ®Google Scholar
• Pope, P. F., R. C. Morris, and D. A. Peel. 2008. “Insider Trading: Some Evidence on Market Efficiency and Directors’ Share Dealings in Great Britain.” Journal of Business Finance & Accounting 17 (3): 359–380. doi:10.1111/j.1468-5957.1990.tb01191.x.
   Google Scholar
• Rozeff, Michael S., and Mir A. Zaman. 1988. “Market Efficiency and Insider Trading: New Evidence.” The Journal of Business 61 (1): 25–44. doi:10.1086/296418.
   Web of Science ®Google Scholar
• Seyhun, H. Nejat. 1986. “Insiders’ Profits, Costs of Trading, and Market Efficiency.” Journal of Financial Economics 16 (2): 189–212. doi:10.1016/0304-405X(86)90060-7.
   Web of Science ®Google Scholar
• Seyhun, H. Nejat. 1992. “The Effectiveness of the Insider-Trading Sanctions.” The Journal of Law & Economics 35 (1): 149–182. doi:10.1086/467248.
   Web of Science ®Google Scholar
• Seyhun, H. Nejat. 1998. Investment Intelligence from Insider Trading. Cambridge: MIT Press.
   Google Scholar
• Stotz, Olaf. 2012. “Do Retail Investors Follow Insider Trades?” German Economic Review 13 (3): 257–274. doi:10.1111/j.1468-0475.2011.00556.x.
   Web of Science ®Google Scholar
• Tahaoğlu, Çağdaş, and Z. Nuray Güner. 2010. “An Investigation of Returns to Insider Transactions: Evidence from the Istanbul Stock Exchange.” Boğaziçi Journal 25 (1): 57–77. doi:10.21773/boun.25.1.3.
   Google Scholar
• Tang, Hui-wen, Anlin Chen, and Chong-Chuo Chang. 2013. “Insider Trading, Accrual Abuse, and Corporate Governance in Emerging Markets — Evidence from Taiwan.” Pacific-Basin Finance Journal 24: 132–155. doi:10.1016/j.pacfin.2013.04.005.
   Web of Science ®Google Scholar
• Tavakoli, Manouchehr, David McMillan, and Phillip J. McKnight. 2012. “Insider Trading and Stock Prices.” International Review of Economics & Finance 22 (1): 254–266. doi:10.1016/j.iref.2011.11.004.
   Web of Science ®Google Scholar
• Wisniewski, Tomasz P., and Martin T. Bohl. 2005. “The Information Content of Registered Insider Trading Under Lax Law Enforcement.” International Review of Law and Economics 25 (2): 169–185. doi:10.1016/j.irle.2005.06.002.
   Web of Science ®Google Scholar
• Wu, Wei. 2018. Insider Purchases after Short Interest Spikes: A False Signaling Device? In Chicago Booth Research Paper.
   Google Scholar