NUS researchers withdraw claims on developers' insider trading

The university recently released a study asserting that developers exchange information on bids during golf time.

Researchers from the National University of Singapore Business School, who released a study earlier this month that claimed insider trading among some developers during games of golf led to cheaper land prices, have retracted the assertion, according to a report by Bloomberg.

The study’s authors now say they couldn’t find evidence such activity took place and have removed the term from their paper.

Also Read: Golf time between developers results in lower land bids: study

“Research is dynamic in nature. Scientists go through many iterations of the paper in the research process,” said Professor Sumit Agarwal, a real estate and economics academic at NUS and one of the paper’s four authors. “With this study, we thought we could establish insider trading. This turned out not to be the case, and hence the content on insider trading was removed in subsequent versions. The version online has since been updated.”

Read the full report here.