Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Finance and Financial Management
Essays On Institutional Investor Trading, Karolina Krystyniak
Essays On Institutional Investor Trading, Karolina Krystyniak
Dissertations, Theses, and Capstone Projects
This dissertation consists of three chapters that examine the role of institutional investors in stock market efficiency. Institutions are important and influential market participants. This study aims to analyze whether institutional investor trading is consistent with higher attention and better skill, what is the impact of institutional trading on future asset prices and how does institutional trading relate to the liquidity in the market.
The first chapter of the dissertation analyzes institutional investors’ response to stock level liquidity shocks. I find that institutions, especially the transient ones, buy stocks that experience positive liquidity shocks and sell those that experience negative …
Essays On Investor Attention, Hongqi Liu
Essays On Investor Attention, Hongqi Liu
Dissertations, Theses, and Capstone Projects
This dissertation consists of three chapters that examine investor attention and its impact on corporate events and asset prices using a Google search-based measure of investor attention.
Chapter 1 This chapter investigates investor attention patterns and its determinants. I document that investor attention displays strong seasonality. It is significantly lower on Fridays and in summer months. I find that investor attention increases significantly following earnings announcements and macro news releases, and the effect is stronger for large firms. When faced with both firm-specific and market-wide information shocks, investors’ attention response to firm-specific information attenuates and their trading behavior is also …