Stock Volatility, Institutional Ownership and Analyst Coverage

We examine the relation between stock volatility and asymmetric information empirically. We use two proxies of information asymmetry: institutional ownership and analyst coverage. We find that firms covered by more analysts are more likely to have less volatile returns. A significant and positive bilateral relationship between stock volatility and institutional block holdings is observed supporting possible herding behaviours of institutional investors

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Year of publication:	2011
Authors:	Sahut, Jean-Michel
Other Persons:	Gharbi, Sami (contributor) ; Gharbi, Hidaya Othmani (contributor)
Publisher:	[2011]: [S.l.] : SSRN
Subject:	Finanzanalyse \| Financial analysis \| Institutioneller Investor \| Institutional investor \| Volatilität \| Volatility \| Eigentümerstruktur \| Ownership structure \| Börsenkurs \| Share price \| Kapitaleinkommen \| Capital income

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Extent:	1 Online-Ressource (31 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Bankers Markets & Investors, Forthcoming Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 5, 2011 erstellt
Classification:	G14 - Information and Market Efficiency; Event Studies ; G11 - Portfolio Choice ; G32 - Financing Policy; Capital and Ownership Structure
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013131821