Purpose – The purpose of this paper is to explain what information is contained in mutual funds' trading behaviors and to try to further assess the impact on the stock market. Design/methodology/approach – The objective is achieved by an empirical examination using the high‐frequency...

Purpose–The purpose of this paper is to explain what information is contained in mutual funds' trading behaviors and to try to further assess the impact on the stock market. Design/methodology/approach–The objective is achieved by an empirical examination using the high-frequency intraday...