In this study we examine the relation between corporate governance and institutional ownership. Our empirical results show that the fraction of a company's shares that are held by institutional investors increases with the quality of its governance structure. In a similar vein, we show that the...

We show that both the number of institutional investors and the percentage of shares that are held by institutional investors increase significantly after reverse splits with a pre-split price lower than $5 and a target price higher than $5. This effect is larger than for other comparable...

In this study we compare the extent of informed trading across investor types in the Korean stock market using intraday quote and trade data from January 2006 to September 2013. We estimate for each stock the probability of information-based trading (PIN) using trades that are initiated by...