آیا تجارت نهان با سطح بالایی از معاملات داخلی همزیست است؟ مدارک و شواهد از کویت
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|48904||2015||7 صفحه PDF||سفارش دهید||محاسبه نشده|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Global Finance Journal, Volume 27, July 2015, Pages 112–118
Stealth trading has been found to exist in the US, where informed investors submit medium-sized trades to reduce price impacts and camouflage their information. This paper reexamines this finding by placing the analysis in a different setting in which insider trading and private information sharing is very common during two different time periods — bull and bear markets. Using data on 34 stocks listed on the Kuwait Stock Exchange, I find that stealth trading exists in these two time periods. However, during bullish periods, stealth trading occurs through small-sized trades, while in bear markets, it occurs through medium-sized trades.