*Yuanzhi is a hedge fund portfolio manager at OTA Asset Management. The paper was first submitted and accepted when I was at Goldman, Sachs & Co. It is adapted from Chapter 1 of my Ph.D. dissertation at the University of Rochester. I am most indebted to my advisor, John Long. I thank him for instilling in me a scientific attitude to research and for offering sound advice throughout this project. During the adaptation, the questions and suggestions of an anonymous referee and Rick Green (the previous editor) have also been very helpful. In addition, the paper has benefited from comments by Andrew Alford, Elizabeth Demers, Gregg Jarrell, Chris Jones, Xiaolei Liu, Clifford Smith, Ross Watts, and participants of the 2004 AFA Annual Meeting. I thank Sandra Sizer for editorial assistance. The usual disclaimers apply.
Do Insiders Learn from Outsiders? Evidence from Mergers and Acquisitions
Version of Record online: 12 AUG 2005
© 2005 the American Finance Association
The Journal of Finance
Volume 60, Issue 4, pages 1951–1982, August 2005
How to Cite
LUO, Y. (2005), Do Insiders Learn from Outsiders? Evidence from Mergers and Acquisitions. The Journal of Finance, 60: 1951–1982. doi: 10.1111/j.1540-6261.2005.00784.x
- Issue online: 12 AUG 2005
- Version of Record online: 12 AUG 2005
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