Similar Search Results

Investor types, liquidity and price formation : evidence from the Stock Exchange of Thailand

Alderighi, Stefano; Gurrola-Perez, Pedro - 2021

- retail investors, domestic and foreign institutions - influence priceformation for different liquidity levels. We find that … trading participants contribute heterogeneously toprice formation, and that liquidity affects the size, but not the relative … both high and low-liquidity stocks. In particular, retail investors’ trade imbalances are associated with the highest five …

Persistent link: https://www.econbiz.de/10013314557

Are firms in "boring" industries worth less?

Chen, Jia; Hou, Kewei; Stulz, René M. - 2015

Using theories from the behavioral finance literature to predict that investors are attracted to industries with more salient outcomes and that therefore firms in such industries have higher valuations, we find that firms in industries that have high industry-level dispersion of profitability...

Persistent link: https://www.econbiz.de/10010531875

Post-merger returns in frontier markets, or how we learned to stop worrying and love the acquirers

Zaremba, Adam; Szyszka, Adam; Płotnicki, Michał; … - In: Journal of business economics and management 19 (2018) 1, pp. 96-109

This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...

Persistent link: https://www.econbiz.de/10012174722

Does Trading by Foreign Investors Contribute More to Stock Price Informativeness than Trading by Domestic Institutions in Emerging Markets? Korean Evidence

Kim, Jeong-Bon; Yi, Cheong H. - 2008

Using a large sample of firms listed on the Korea Stock Exchange over the 1992-2002 period, this paper investigates a hitherto unexplored question of whether and how trading by foreign and domestic institutional investors improves the extent to which firm-specific information is incorporated...

Persistent link: https://www.econbiz.de/10014218755

Investor Composition and Liquidity : An Analysis of Japanese Stocks

Jiang, Hao - 2014

liquidity. Our analysis of a panel of firm-level ownership data indicates that Japanese stocks that are held more by foreign …

Persistent link: https://www.econbiz.de/10013065675

News Tone, Investor Sentiment, and Liquidity Premium

Liu, Jun; Wu, Kai; Zhou, Ming - 2022

Investor sentiment affects stock market liquidity by affecting noise trading and irrational market makers. Previous … studies have focused on this effect with the time-series variation in sentiment and liquidity. This paper utilizes firm …-specific news sentiment (FSNS) to examine its effect on stock liquidity in China stock market and show that firms with an optimistic …

Persistent link: https://www.econbiz.de/10013492675

Do Chinese Investors Underact to Goodwill

Li, Yongqing - 2021

This paper mainly studies goodwill as an intangible asset, and considers that goodwill and sales contain information about enterprise value. The results show that goodwill can predict the future return rate of China's stock market, indicating that investors in China’s stock market underact to...

Persistent link: https://www.econbiz.de/10013227396

Does trading anonymously enhance liquidity?

Dennis, Patrick; Sandås, Patrik - 2014

. We exploit this quasi{ natural experiment to investigate the impact this change had on liquidity and trading behavior …

Persistent link: https://www.econbiz.de/10010414866

Investor Reaction to Market Surprises on the Istanbul Stock Exchange

Erzurumlu, Yaman O. - 2013

This paper examines the reaction of investors to the arrival of unexpected information on the Istanbul Stock Exchange. The empirical results suggest that the investor reaction following unexpected news on the ISE100 is consistent with Overreaction Hypothesis especially after unfavorable market...

Persistent link: https://www.econbiz.de/10013076503

Stock Splits on Paris Bourse : A Way to 'Divide and Conquer' - Managers’ Incentives and Investors’ Preferences

Pecchioli, Bruno - 2012

individual investors and to improve liquidity. The existence of standards or preferences from investors in terms of price level … these operations and we develop a simple model of stock price level optimization. On the one hand, this enhanced liquidity …

Persistent link: https://www.econbiz.de/10013105443

1
2
3
4
5
6
7
8
9
10
Next
Last