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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/117573
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/117573


    Title: Why Do Insiders Sell Shares Following IPO Lockups?
    Authors: 陳聖賢
    Chen, Hsuan-Chi
    Chen, Sheng-Syan
    Huang, Chia-Wei
    Contributors: 財管系
    Date: 2012
    Issue Date: 2018-06-11 18:13:43 (UTC+8)
    Abstract: We examine long run returns subsequent to the lockup expiration of firms having gone public. We find that returns are negatively associated with abnormal selling by senior executives but unrelated to selling by other insiders. Our results suggest that even though lockup expirations provide an initial opportunity for insiders to diversify their holdings by selling a firm's shares, sales by senior executives are still motivated in part by private information. Sales by other insiders, on the other hand, are consistent with portfolio diversification.
    Relation: Financial Management, Vol.41, No.4, pp.813-847
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1111/j.1755-053X.2012.01217.x
    DOI: 10.1111/j.1755-053X.2012.01217.x
    Appears in Collections:[財務管理學系] 期刊論文

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