Do institutional investors stabilize equity markets in crisis periods? Evidence from COVID-19
During the COVID-19 crash, US stocks with higher institutional ownership performed worse.
This under-performance is unrelated to revisions in earnings expectations, which suggests a …
This under-performance is unrelated to revisions in earnings expectations, which suggests a …
What moves equity markets? A term structure decomposition for stock returns
AS Gonçalves - Kenan Institute of Private Enterprise Research …, 2021 - papers.ssrn.com
Several papers decompose stock returns into cash flow and discount rate news to study
equity market fluctuations. This paper develops an alternative return decomposition based …
equity market fluctuations. This paper develops an alternative return decomposition based …
[PDF][PDF] Research Paper Series N 20-56
During the COVID-19 crash, US stocks with higher institutional ownership performed worse.
By studying firm-level changes in institutional ownership, we identify two mechanisms …
By studying firm-level changes in institutional ownership, we identify two mechanisms …
Intermediation frictions in equity markets
B Seegmiller - 2020 - dspace.mit.edu
Stocks with similar characteristics but different levels of ownership by financial institutions
have returns and risk premia that comove very differently with shocks to the risk bearing …
have returns and risk premia that comove very differently with shocks to the risk bearing …
[PDF][PDF] Money in the right hands
A Rzeznik, R Weber - 2024 - acfr.aut.ac.nz
We study stock liquidity from a demand-based perspective in the context of mutual fund fire
sales. We construct a stock-level measure of what we call specialized demand, the available …
sales. We construct a stock-level measure of what we call specialized demand, the available …