Technological advances and regulatory initiatives have led to the emergence of a competitive,
but fragmented, equity trading landscape in several markets around the world. While …

… Hengelbrock and Westheide gratefully acknowledge financial support from the German …
and Markus Glaser for helpful conversations, and to Norman C. Strong (the associate Editor), an …

This paper investigates whether corporate insiders trade when asymmetric information is high,
using data on US corporate insider transactions between 1986 and 2012. We generalize …

… Sagade and Westheide gratefully acknowledge research support from the Research Center
… The price efficiency results (Panel C), again contrary to the main sample results, show no …

Corporate insider trades predict idiosyncratic return skewness. CEO purchases are followed
by an increase and CEO sales by a decrease in idiosyncratic skewness. The evidence …

… Panel A reports the statistics for all trades and Panels B and C report the statistics for all
trades below and above the LIS. Panels B and C exclude auctions as the individual trades …

… Christian Westheide gratefully acknowledges research support from the Research Center
SAFE, … In Panels B and C of Table 6 we include these characteristics as additional control 21 …

Advances in technology and several regulatory initiatives have led to the emergence of a
competitive but fragmented equity trading landscape in the US and Europe. While these …

This paper presents the most extensive analysis of liquidity in the German equity market so
far. We examine the evolution of liquidity over time, the determinants of liquidity, and …

Water is increasingly recognized as a commodity in its own right, as evidenced by the launching
in 2006 of the first water index, World Water Index or WOWAX. For a number of factors …