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Insynshandel – där abnorm avkastning är abrupt!: En studie om den lagliga insynshandeln på företagen listade på First North
Södertörn University, School of Social Sciences, Business Studies.
Södertörn University, School of Social Sciences, Business Studies.
2017 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Insider trading - where abnormal return is abrupt! : A study of the legal insider trading on the companies listed on First North (English)
Abstract [en]

Purpose: The purpose of the study is to investigate whether executives can earn abnormal return by purchasing their own stocks and establish an understanding of possible aspects.

Method: In order to observe if abnormal return exists on insider buy-transactions, a method triangulation with deductive approach has been made. An event study has been adopted to measure the transaction events. In addition, CAAR has been calculated with aid of a model. These values go through a significance test in order to support the hypothesis. 

Theory: The study is grounded on the efficient market hypothesis, information asymmetry, behavioural finance and signalling. Furthermore, previous research has been adopted to support the study. 

Conclusion: The results of the study show that executives for growth companies can profit from abnormal returns.

Abstract [sv]

Syfte: Syftet med studien är att studera om personer i ledande ställning profiterar vid insynsförvärv av aktier samt skapa en djupare förståelse kring möjliga underliggande faktorer.

Metod: För att studera om det uppstår abnorm avkastning vid insynsförvärv har en metodtriangulering med deduktiv ansats behandlats. Eventstudie har använts för att mäta transaktions händelserna. Vidare beräknas CAAR med hjälp av en modell. Dessa kommer sedan att signifikanstestas för att stödja hypoteserna. 

Teori: Teorier som behandlas i denna studie är den effektiva marknadshypotesen, informationsasymmetrin, beteendebaserad finansiering och signaleringshypotesen. Vidare behandlas tidigare forskningar som ger stöd till studien.

Slutsats: Resultaten för studien påvisar att personer i ledande ställning för tillväxtföretag kan profitera på abnorm avkastning. 

Place, publisher, year, edition, pages
2017. , p. [7], 50
Keywords [en]
Insider trading, abnormal return, event study, First North, efficient market hypothesis, behavioural finance, asymmetrical information, signalling theory, market-adjusted return model.
Keywords [sv]
Insynshandel, abnorm avkastning, eventstudie, First North, effektiva marknadshypotesen, beteendebaserad finansiering, informationsasymmetri, signaleringsteori, marknadsjusterad avkastningsmodell.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:sh:diva-34357OAI: oai:DiVA.org:sh-34357DiVA, id: diva2:1176984
Subject / course
Business Studies
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2018-01-24 Created: 2018-01-24 Last updated: 2018-01-24Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • harvard-anglia-ruskin-university
  • apa-old-doi-prefix.csl
  • sodertorns-hogskola-harvard.csl
  • sodertorns-hogskola-oxford.csl
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf