We use a simple non-linear model, that of Treynor and Mazuy, to test the ability of Greek mutual fund managers to time the market. The empirical findings do not reveal any ability of the Greek managers to time the market correctly or select undervalued securities. In contrary ,five out of...

We investigate the relation between share prices and the proportion of equity held by institutional investors for a sample of 52 companies quoted on the Athens Stock Exchange over the period from 1991 to 1996. We differ from earlier studies in as much as use is made of a) an explicit share...

In this paper we investigate the influence of institutional investors on share prices using data from companies quoted on the Athens Stock Exchange. For finance theorists the value of an investment, real or financial, is a function of its expected benefits and the riskiness of these benefits....