Utilizing a database of daily institutional fund manager trades, we examine the contribution of strategic trading at quarter-end associated with potential 'portfolio pumping' or 'ramping up' of reported stock prices around quarter-ends. We provide the first direct evidence that active fund...

Employing a database of equity portfolio holdings for active U.S. fund managers, we provide a simulation analysis of the various portfolio blends that might arise as additional active equity funds are added to a single portfolio structure. We document increased difficulties for blended...

Using unique daily fund manager trade data, we examine the role of institutional trading in influencing firm performance. We show that short-horizon informed trading by multiple institutional investors effectively disciplines corporate management. Our focus is on short-term ldquo;swingrdquo;...

This study extends an examination of Quality investing in the US (Gallagher et al., 2013) to the Australian market. Specifically, a Quality score is computed as the aggregate of eight fundamental accounting metrics. An investment strategy investing in the highest (lowest) quality stock quintile...