Showing 1 - 6 of 6
Using a novel data of institutional investors' bond holdings, we examine a transmission of the crisis of 2007-2008 from the securitized bond market to the corporate bond market via joint ownership of these bonds by investors. We posit that, ceteris paribus, corporate bonds held by investors with...
Persistent link: https://www.econbiz.de/10013140999
We relate the degree of investor portfolio focus to the broader urban economic context of the household. Using a detailed panel of investors in Sweden over the period 1995 to 2000, we find that the level of investor diversification, as measured by number of stocks in the portfolio and by the...
Persistent link: https://www.econbiz.de/10012785193
We use a two-year panel of individual accounts in an Samp;P 500 index mutual fund to examine the trading and investment behavior of more than 91 thousand investors who have chosen a low-cost, passively managed vehicle for savings. This allows us to characterize investors' heterogeneity in terms...
Persistent link: https://www.econbiz.de/10012763343
In the present paper we analyze the relationship between index funds and asset prices. In particular, our analysis of daily index fund flows indicates a strong contemporaneous correlation between fund inflows and Samp;P market returns. We also document a strong negative correlation between fund...
Persistent link: https://www.econbiz.de/10012763384
In this paper, we estimate the behavioral component of the Grinblatt and Han (2002) model and derive several testable implications about the expected relationship between the preponderance of disposition-prone investors in a market and volume, volatility and stock returns. To do this, we use a...
Persistent link: https://www.econbiz.de/10013223307
We study information substitutability in the financial market through a quasi-natural experiment: the pandemic-triggered lockdown that has hampered people’s physical interactions and hence the ability to collect, process, and transmit human-interaction-based information. Exploiting the...
Persistent link: https://www.econbiz.de/10013312643