{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/87162"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/87162","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Essays on Fundamental Analysis","abstract":"In the second chapter, I use a fundamental analysis strategy based upon common operating performance metrics to distinguish informative insider trades from noise trades. Insiders who trade consistently with these accounting fundamentals earn higher abnormal returns than the abnormal returns normally earned by insiders or those from the fundamental analysis strategy. A trading strategy based on the combination of publicly available insider trading and accounting data earns annual abnormal returns of approximately 15.1% after controlling for market, size, book-to-market and momentum factors. This trading strategy earns positive returns in each year of the study. These results are consistent with the selected set of insider trades being particularly informative with respect to mispricing.","abstract_html":"In the second chapter, I use a fundamental analysis strategy based upon common operating performance metrics to distinguish informative insider trades from noise trades. Insiders who trade consistently with these accounting fundamentals earn higher abnormal returns than the abnormal returns normally earned by insiders or those from the fundamental analysis strategy. A trading strategy based on the combination of publicly available insider trading and accounting data earns annual abnormal returns of approximately 15.1% after controlling for market, size, book-to-market and momentum factors. This trading strategy earns positive returns in each year of the study. These results are consistent with the selected set of insider trades being particularly informative with respect to mispricing.","abstract_has_math":false,"creators":["Donelson, Dain C."],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Accountancy","degree_department":null,"school":null,"contributors":["Sougiannis, Theodore"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2015,"date_issued":"2015-09-28T15:39:23Z","date_published":"2015-09-28T15:39:23Z","updated_at":"2026-07-22T22:26:28Z","subjects":["Business Administration, Accounting"],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["(MiAaPQ)AAI3290221"],"render_values":[{"text":"(MiAaPQ)AAI3290221","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/87162","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Sougiannis, Theodore"]},{"key":"dc:creator","label":"Author","values":["Donelson, Dain C."]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2015-09-28T15:39:23Z","10000-01-01","2007"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Accountancy"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Business Administration, Accounting"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["http://hdl.handle.net/2142/87162","(MiAaPQ)AAI3290221"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["In the second chapter, I use a fundamental analysis strategy based upon common operating performance metrics to distinguish informative insider trades from noise trades. Insiders who trade consistently with these accounting fundamentals earn higher abnormal returns than the abnormal returns normally earned by insiders or those from the fundamental analysis strategy. A trading strategy based on the combination of publicly available insider trading and accounting data earns annual abnormal returns of approximately 15.1% after controlling for market, size, book-to-market and momentum factors. This trading strategy earns positive returns in each year of the study. These results are consistent with the selected set of insider trades being particularly informative with respect to mispricing.","Made available in DSpace on 2015-09-28T15:39:23Z (GMT). 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Insiders who trade consistently with these accounting fundamentals earn higher abnormal returns than the abnormal returns normally earned by insiders or those from the fundamental analysis strategy. A trading strategy based on the combination of publicly available insider trading and accounting data earns annual abnormal returns of approximately 15.1% after controlling for market, size, book-to-market and momentum factors. This trading strategy earns positive returns in each year of the study. These results are consistent with the selected set of insider trades being particularly informative with respect to mispricing.","Made available in DSpace on 2015-09-28T15:39:23Z (GMT). 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