Do Institutional Investors Destabilize Stock Prices? Evidence on Herding and Feedback Trading
收藏数据链接：
官方服务：
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
