Heterogeneous Beliefs, Institutional Investors and Stock Returns – Evidence from China
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DOI: 10.12973/ejmste/77928
Abstract: Using the turnover decomposition model, I extract unexpected trading volume from the institutional investors’ trading activity to measure the institutional investors’ heterogeneous beliefs and explore the explanatory power of that on stock returns. Portfolios built… read more here.
Keywords: institutional investors; investors heterogeneous; beliefs institutional; stock returns ... See more keywords