Anand, Amber; Irvine, Paul; Puckett, Andy; … - In: Journal of Financial Economics 108 (2013) 3, pp. 773-797
We examine the impact of institutional trading on stock resiliency during the financial crisis of 2007–2009. We show that buy-side institutions have different exposure to liquidity factors based on their trading style. Liquidity supplying institutions absorb the long-term order imbalances in...
