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- W2892384046 abstract "The authors propose a strategy that uses trading information of both short sellers and corporate insiders. They find that the strategy earns statistically significant and economically meaningful risk-adjusted returns for at least one year, stemming mainly from the information asymmetry between informed and uninformed investors. Based on this finding, they then show that the strategy works best in high-information-asymmetry environments and during economic expansion periods. The results have important implications for investment practitioners. Investors interested in high-information-asymmetry firms can refer to the information on short interest and insider demand when making investment decisions. <b>TOPICS:</b>Portfolio construction, security analysis and valuation, performance measurement" @default.
- W2892384046 created "2018-10-05" @default.
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- W2892384046 date "2019-03-05" @default.
- W2892384046 modified "2023-09-23" @default.
- W2892384046 title "When Short Sellers and Corporate Insiders Agree on Stock Pricing" @default.
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- W2892384046 doi "https://doi.org/10.3905/jpm.2019.1.084" @default.
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