Insider Trading in the Swiss Stock Market
Journal
Schweizerische Zeitschrift für Volkswirtschaft und Statistik
ISSN
0303-9692
Type
journal article
Date Issued
2007-09-01
Author(s)
Zingg, Andreas
;
Lang, Sebastian
;
Wyttenbach, Daniela
Abstract (De)
Many studies on insider trading are based on data of the U.S. market and conclude that insiders can earn abnormal profits. This paper examines for the Swiss stock market whether insiders can earn abnormal profits and whether outsiders can make abnormal profits by mimicking the transactions of insiders. We find significant abnormal returns for insider trading, as well as some evidence for profitable mimicking strategies. We can reject the strong form Efficient Market Hypothesis for the Swiss stock market. However, with regard to the semi-strong form Efficienct Market Hypothesis, it remains unclear whether it is true for the Swiss stock market.
Language
German
HSG Classification
not classified
Refereed
Yes
Publisher
Lang
Publisher place
Bern
Volume
143
Number
3
Start page
331
End page
362
Pages
32
Subject(s)
Division(s)
Eprints ID
55637
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open.access
Name
Insider Trading in the Swiss Stock Market.pdf
Size
504.14 KB
Format
Adobe PDF
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