Institutional Investors and Equity Returns: Are Short-term Institutions Better Informed?

We show that the positive relation between institutional ownership and future stock returns documented in Gompers and Metrick (2001) is driven by short-term institutions. Furthermore, short-term institutions' trading forecasts future stock returns. This predictability does not reverse in the lo...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	The Review of financial studies 2009-02, Vol.22 (2), p.893-924
Hauptverfasser:	Yan, Xuemin (Sterling), Zhang, Zhe
Format:	Artikel
Sprache:	eng
Schlagworte:	Growth stocks Institutional investments Investment policy Rates of return Return on equity Return on investment Roles Securities analysis Securities trading Stock exchanges Studies
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!