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Cited by 553

The DOI matches its Crossref record; 39 of the 39 references it cites were found in a registry or an index.

Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective

Jeng, Leslie A., Metrick, Andrew, Zeckhauser, Richard·2003·Review of Economics and Statistics
DOI 10.1162/003465303765299936
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Abstract

This paper uses performance-evaluation methodology to estimate the returns earned by insiders when they trade their company's stock. Our methods are designed to estimate the returns earned by insiders themselves and thereby differ from the previous insider-trading literature, which focuses on the informativeness of insider trades for other investors. We find that insider purchases earn abnormal returns of more than 6% per year, and insider sales do not earn significant abnormal returns. We compute that the expected costs of insider trading to noninsiders are about 10 cents for a $10,000 transaction.

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Metadata

Authors
Jeng, L. A., Metrick, A., & Zeckhauser, R.
Venue
Review of Economics and Statistics
Publisher
MIT Press - Journals
Published
2003-05
Volume
85
Issue
2
Pages
453-471
ISSN
  • 0034-6535 (ISSN-L)
  • 1530-9142
DOI
10.1162/003465303765299936
OpenAlex
W3124198244
Cited by
553
References
39
FWCI
20.43
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective. https://app.cochat.ai/papers/10.1162/003465303765299936
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Jeng, L. A., Metrick, A., & Zeckhauser, R. (2003). Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective. Review of Economics and Statistics. https://doi.org/10.1162/003465303765299936

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.