The Distribution of Investor Beliefs, Stock Ownership and Stock Returns
收藏NBER2021-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28697
下载链接
链接失效反馈官方服务：
资源简介：
We study theoretically and empirically the relationship between investor beliefs, ownership dispersion and stock returns. We find that high dispersion, measured by high breadth or low Herfindahl index, forecasts returns positively for large stocks, as in Chen, Hong and Stein (2002), but negatively
提供机构：
美国国家经济研究局
创建时间：
2021-04-01
