Does Investment Horizon Matter? Disentangling the Effect of Institutional Herding on Stock Prices
Existing studies document that institutional herding has a stabilizing effect on stock prices, as stock returns are positively correlated with herding over one- to three-quarter horizons. The literature also shows that short-term institutions are better informed than long-term institutions. Motivate...
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| Language: | en |
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The University of Arizona.
2012
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| Online Access: | http://hdl.handle.net/10150/232474 |