Institutional Investors and Stock Return Volatility
碩士 === 國立臺灣大學 === 財務金融學研究所 === 107 === This study investigates the influence of different types of Institutional Investors on future stock return volatility. Institutional Investors are classified into Growth and Non-Growth by their investing preference, and are classified into Transient and Non-Tra...
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| Format: | Others |
| Language: | zh-TW |
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2019
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| Online Access: | http://ndltd.ncl.edu.tw/handle/4aucfb |
| Summary: | 碩士 === 國立臺灣大學 === 財務金融學研究所 === 107 === This study investigates the influence of different types of Institutional Investors on future stock return volatility. Institutional Investors are classified into Growth and Non-Growth by their investing preference, and are classified into Transient and Non-Transient by their investing style. The empirical results indicate that greater ownership of Growth institutional investors is associated with higher future stock return volatility, and that greater ownership of Non-Growth institutional investors is negatively associated with future stock return volatility. In addition, this study provides evidences for a stronger impact of investing preference on future stock return volatility. Our findings remain consistent before and after global financial crisis.
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