Corpus ID: 201634631

Not Just a Boys ’ Club : Gender and Private Information Channels for Insider Trading

  title={Not Just a Boys ’ Club : Gender and Private Information Channels for Insider Trading},
  author={Iain Clacher and Beatriz Garc{\'i}a Osma and Elvira Scarlat and Karin Shields}
We investigate gender differences in insiders’ trading profitability under female top executives (CEO/CFO) using a large sample of US firms between 1995 and 2016. We argue that top executive gender influences both insiders’ access to and use of firm private information. Using a number of empirical specifications, including difference-in-differences on a propensity score matched sample and an instrumental variable approach, our results suggest a significant decrease in firm-wide insider trading… Expand

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