Sophisticated Investors and Market Efficiency: Evidence from a Natural Experiment
收藏NBER2018-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24552
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资源简介：
We study how sophisticated investors, when faced with changes in information environment, adjust their information acquisition and trading behavior, and how these changes in turn affect market efficiency. We find that, after exogenous reductions of analyst coverage due to closures of brokerage firms
提供机构：
美国国家经济研究局
创建时间：
2018-04-01
