Institutional Investors and Information Acquisition: Implications for Asset Prices and Informational Efficiency
收藏NBER2017-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23561
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资源简介：
We jointly model the information choice and portfolio allocation problem of institutional investors who are concerned about their performance relative to a benchmark. Benchmarking increases an investor's effective risk-aversion, which reduces his willingness to speculate and, consequently, his
提供机构：
美国国家经济研究局
创建时间：
2017-07-01
