Kenneth R. Ahern (2017). Information networks: evidence from illegal insider trading tips

Finance research paper presentation slides. This presentation summarizes the study Information Networks: Evidence from Illegal Insider Trading Tips by Kenneth R. Ahern (2017). Slides cover main questions (spread of nonpublic information, social relationships, market efficiency, centrality effects), motivation (gaps in prior proxies for social connections, real communication data), methodology (hand-collected SEC/DOJ data, network mapping, regression analyses), key findings (information flows mainly through strong social ties; geographic and cultural proximity matter; insider trades improve short-term market efficiency; central traders earn higher-quality information and returns), and logit model specification (binary outcome for tip transmission based on social closeness, gender, age gap, family role, tipper fixed effects) with an explanation of why the model is used and how it supports findings. Designed for students who need ready-to-use, detailed analysis with graphs, tables, and discussion points.