Sharma, Vivek; Hur, Jungshik; Lee, Heiwai - In: Journal of Financial Research 31 (2008) 1, pp. 65-84
We design a new metric to measure the net buying and selling by institutions and individual investors and find that from 1980 to 2004 institutional investors were net buyers of growth stocks and net sellers of value stocks, implying that individual investors were net buyers of value stocks and...