ISSN: 2225-8329
Open access
This study investigates the existence and determinants of possible insider trading prior to stock split announcements among 100 companies listed on Bursa Malaysia from 2018 to 2023. Using panel data analysis, examined the impact of market capitalization, ownership structure, liquidity, and board independence on abnormal trading volumes as a proxy for insider trading activity. Four hypotheses are tested using fixed and random effects models, with the Hausman test guiding model selection. Results are compared to previous studies, and the paper concludes with policy recommendations and suggestions for future research.
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