| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4399 |
| DP4399 On the Efficacy of Reforms: Policy Tinkering, Institutional Change and Entrepreneurship | |
| Dani Rodrik; Murat Iyigun | |
| 发表日期 | 2004-06-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We study the stock price response to announcements of share purchases by corporate insiders over the period 1994 through 1999. The cross-sectional variability in the response is consistent with a curvilinear relation between firm value and insider ownership, where the value of the firm first increases, then decreases as insider ownership increases. These results are consistent with a causal interpretation of the relationship between insider ownership and firm value. The results of further tests are inconsistent with an interpretation that the firms in our sample are moving toward a new equilibrium ownership level or that insiders are purchasing shares to signal that the firm is undervalued. |
| 主题 | Financial Economics |
| 关键词 | Insider ownership Firm value Executive stock purchases |
| URL | https://cepr.org/publications/dp4399 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533353 |
| 推荐引用方式 GB/T 7714 | Dani Rodrik,Murat Iyigun. DP4399 On the Efficacy of Reforms: Policy Tinkering, Institutional Change and Entrepreneurship. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Dani Rodrik]的文章 |
| [Murat Iyigun]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Dani Rodrik]的文章 |
| [Murat Iyigun]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Dani Rodrik]的文章 |
| [Murat Iyigun]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
