| Autor: |
Peydró, José-Luis, Akin, Özlem, Coleman, Nicholas S., Fons-Rosen, Christian |
| Rok vydání: |
2021 |
| DOI: |
10.6084/m9.figshare.14778561 |
| Popis: |
We study insider trading behavior surrounding the largest bank bailout in history: Troubled Asset Relief Program (TARP). In politically connected banks, insider buying during the pre-TARP period is associated with increases in abnormal returns around bank-specific TARP announcement; for unconnected banks, trading and returns are uncorrelated. Results hold across insiders within the same bank and are stronger for finance-related government connections. Through a Freedom of Information Act request, we obtained the previously undisclosed TARP funds requested; the ratio of received to requested funds correlates both with abnormal returns and insider buying behavior in connected banks. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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