This paper uses stock price synchronicity to explain the cross-sectional variation in return asymmetries during the period in Australia between 2006 and 2009. We show that returns are more positively skewed for firms that have high stock price synchronicity. We argue that firms with high stock...

Do different institutional investors possess different sets of information? The extent to which different institutional investors offer different information to individual/naive investors remains an interesting question in information poor emerging stock markets. Using a comprehensive data of...