Huang, Tao; Hu, Yuancheng; Wang, Yang; Zhang, Weidong - In: Emerging Markets Finance and Trade 50 (2014) 3, pp. 196-220
The behavior of institutional investors often deviates from established personal or social norms; this deviation may reflect either an informational advantage or a psychological bias. In this paper, we investigate the reasons Chinese mutual funds hold lottery-type stocks, which are characterized...