Director networks and informed traders

We provide evidence that sophisticated investors like short sellers, option traders, and financial institutions are more informed when trading stocks of companies with more connected board members. For firms with large director networks, the annualized return difference between the highest and lowes...

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Veröffentlicht in:	Journal of accounting & economics 2016-08, Vol.62 (1), p.1-23
Hauptverfasser:	Akbas, Ferhat, Meschke, Felix, Wintoki, M. Babajide
Format:	Artikel
Sprache:	eng
Schlagworte:	Adverse selection Boards of directors Director networks Earnings announcements Informed traders Investors Rates of return Short interest Short sellers Social networks Studies
Online-Zugang:	Volltext
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