The dynamics of informed trading around corporate bankruptcies
| dc.contributor.author | Viet Anh, Dang | |
| dc.contributor.author | Dinh Trung, Nguyen | |
| dc.contributor.author | Pham, Thu Phuong | |
| dc.contributor.author | Ralf, Zurbruegg | |
| dc.date.accessioned | 2024-04-10T08:37:27Z | |
| dc.date.available | 2024-04-10T08:37:27Z | |
| dc.date.issued | 2024 | |
| dc.identifier.citation | Viet Anh, D. and Dinh Trung, N. and Pham, T.P. and Ralf, Z. 2024. The dynamics of informed trading around corporate bankruptcies. Finance Research Letters. 63: 105385. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/94811 | |
| dc.identifier.doi | 10.1016/j.frl.2024.105385 | |
| dc.description.abstract |
We investigate the dynamics of informed trading both before and after corporate bankruptcy announcements using high frequency data. Our findings reveal that pre-announcement informed selling attenuates subsequent announcement returns, with this effect being weaker for firms receiving extensive pre-announcement media coverage or adverse news sentiment. We also find that post-announcement informed trading can serve as a predictor of subsequent bankruptcy outcomes. Overall, results are consistent with there being material information leakage, warranting policy efforts to better safeguard less informed investors. | |
| dc.publisher | Elsevier | |
| dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | |
| dc.title | The dynamics of informed trading around corporate bankruptcies | |
| dc.type | Journal Article | |
| dcterms.source.volume | 0 | |
| dcterms.source.volume | 63 | |
| dcterms.source.number | 0 | |
| dcterms.source.issn | 1544-6123 | |
| dcterms.source.title | Finance Research Letters | |
| dc.date.updated | 2024-04-10T08:37:27Z | |
| curtin.department | School of Accounting, Economics and Finance | |
| curtin.accessStatus | Open access | |
| curtin.faculty | Faculty of Business and Law | |
| curtin.contributor.orcid | Pham, Thu Phuong [0000-0002-8078-9659] | |
| curtin.identifier.article-number | 0 | |
| curtin.identifier.article-number | 105385 | |
| curtin.contributor.scopusauthorid | Pham, Thu Phuong [23482890700] | |
| curtin.repositoryagreement | V3 |
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