Narrow search
Showing 1 - 10 of 53,683
Cover Image
To Be Good or To Be Better: Asset Managers Attitudes Towards Herding
Lütje, Torben - Wirtschaftswissenschaftliche Fakultät, Leibniz … - 2004
Based on a questionnaire survey the paper distinguishes between herding asset managers who try to be good and non-herding … asset managers who try to be better than their competitors. It provides evidence for reputational herding and discusses … herding managers\\\' working effort, preferred sources of information and investment horizon. Additionally, their risk taking …
Persistent link: https://www.econbiz.de/10005464754
Cover Image
Asset price effects of peer benchmarking : evidence from a natural experiment
Acharya, Sushant; Pedraza, Alvaro - 2015
We estimate the effects of peer benchmarking by institutional investors on asset prices. To identify trades purely due to peer benchmarking as separate from those based on fundamentals or private information, we exploit a natural experiment involving a change in a government-imposed...
Persistent link: https://www.econbiz.de/10010514042
Cover Image
Asset price effects of peer benchmarking: Evidence from a natural experiment
Acharya, Sushant; Pedraza, Alvaro - 2015
We estimate the effects of peer benchmarking by institutional investors on asset prices. To identify trades purely due to peer benchmarking as separate from those based on fundamentals or private information, we exploit a natural experiment involving a change in a government-imposed...
Persistent link: https://www.econbiz.de/10011341019
Cover Image
Asset price effects of peer benchmarking: evidence from a natural experiment
Acharya, Sushant; Pedraza, Alvaro - Federal Reserve Bank of New York - 2015
We estimate the effects of peer benchmarking by institutional investors on asset prices. To identify trades purely due to peer benchmarking as separate from those based on fundamentals or private information, we exploit a natural experiment involving a change in a government-imposed...
Persistent link: https://www.econbiz.de/10011272877
Cover Image
Visualizing Stock-Mutual Fund Relationships Through Social Network Analysis
Solis, Rafael - 2010
In this paper we analyze the network structure of stocks (as actors in a 2-mode/affiliation social network) and their relationship to mutual funds. The analysis reveals a network structure that has both the “hub” and “small world” characteristics of many common social and physical...
Persistent link: https://www.econbiz.de/10013149040
Cover Image
Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - Institut für Finanzmarktforschung, Wirtschafts- und … - 2015
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10011152748
Cover Image
Institutional Investors and the Information Content of Earnings Announcements: The Case of Poland
Tavakkol, Amir; Korczak, Piotr - Wirtschaftswissenschaftliche Fakultät, … - 2005
This paper investigates the relationship between market reaction to earnings surprises and institutional concentration in the firm?s shareholders base. We use data from the Polish stock market where pension funds form a homogenous and highly competitive investor class with an increasing share in...
Persistent link: https://www.econbiz.de/10009216833
Cover Image
Institutional trading and stock resiliency: Evidence from the 2007–2009 financial crisis
Anand, Amber; Irvine, Paul; Puckett, Andy; … - In: Journal of Financial Economics 108 (2013) 3, pp. 773-797
We examine the impact of institutional trading on stock resiliency during the financial crisis of 2007–2009. We show that buy-side institutions have different exposure to liquidity factors based on their trading style. Liquidity supplying institutions absorb the long-term order imbalances in...
Persistent link: https://www.econbiz.de/10010665567
Cover Image
Liquidity risk and institutional ownership
Cao, Charles; Petrasek, Lubomir - In: Journal of Financial Markets 21 (2014) C, pp. 76-97
Institutional ownership affects the sensitivity of stock returns to changes in market liquidity (liquidity risk). Overall, institutional ownership lowers the liquidity risk of stocks. However, different types of institutions affect liquidity risk in opposite ways. Stocks held by hedge funds,...
Persistent link: https://www.econbiz.de/10011116723
Cover Image
Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - Deutsche Bundesbank - 2014
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10011161233