Cha, Heung-Joo; Lee, Bong-Soo - In: Journal of Financial and Quantitative Analysis 36 (2001) 02, pp. 195-220
We examine whether the market demand curve for equities is dawnward sloping. Unlike previous studies that examine individual stocks' demand curves, we look at the aggregate demand curve. As a proxy for aggregate demand, we employ equity mutual fund flows. Unlike previous studies that focus on...