Institutional Investors and Stock Market Volatility
收藏NBER2005-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11722
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资源简介：
We present a theory of excess stock market volatility, in which market movements are due to trades by very large institutional investors in relatively illiquid markets. Such trades generate significant spikes in returns and volume, even in the absence of important news about fundamentals. We derive
提供机构：
美国国家经济研究局
创建时间：
2005-11-01
