Plausibly Exogenous [734] - Hackers (01/22/2022)
LHS Variable
Prices
RHS Variable
Information in earnings news
Source of Exogenous Variation
From 2010 to 2015, a group of traders illegally accessed earnings information before their public release by hacking several newswire services
- Akey, Gregoire, and Martineau (2022), “Price revelation from insider trading: Evidence from hacked earnings news”