Do Institutional Investors Destabilize Stock Prices? Evidence on Herding and Feedback Trading
收藏NBER1991-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3846
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资源简介：
This paper uses a new data set of quarterly portfolio holdings of 769 all-equity pension funds between 1985 and 1989 to evaluate the potential effect of their trading on stock prices. We address two aspects of trading by money managers: herding, which refers to buying (selling) the same stocks as
提供机构：
美国国家经济研究局
创建时间：
1991-09-01
