Fraudulently misstated financial statements and insider trading: An empirical analysis

被引：8

作者：

Summers, SL ^{[1
]}

Sweeney, JT ^{[1
]}

机构：

[1] Univ Missouri, Columbia, MO 65211 USA

来源：

ACCOUNTING REVIEW | 1998年 / 73卷 / 01期

关键词：

insider trading; fraud risk assessment; cascaded logit; SAS No. 82;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the relationship between insider trading and fraud. We find that in the presence of fraud, insiders reduce their holdings of company stock through high levels of selling activity as measured by either the number of transactions, the number of shares sold, or the dollar amount of shares sold. Moreover, we present evidence that a cascaded logit model, incorporating insider trading variables and firm-specific financial characteristics, differentiates companies with fraud from companies without fraud.

引用

页码：131 / 146

页数：16

共 29 条

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