Abstract
Previous studies on insider trading activities in Canada prior to 1975 showed that insiders earned above average returns. This study examined the trading performance of senior officers, company directors and bank directors who were simultaneously company directors in purchasing their own firms' stocks in 1981 and 1982. We found no evidence of exploitation of privileged information by these insiders in the recent Canadian data. This result could be attributed to the introduction of new legislation on insiders trading their own stocks.
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