Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/147786
Title: INVESTIGATION ON INSTITUTIONAL INVESTORS’ AND STOCK ANALYSTS’ ABILITY TO EXTRACT AND ACT ON THE INFORMATION CONTENT OF STOCK PRICE CRASHES
Authors: INDRA BUDIHARTO
Issue Date: 2013
Citation: INDRA BUDIHARTO (2013). INVESTIGATION ON INSTITUTIONAL INVESTORS’ AND STOCK ANALYSTS’ ABILITY TO EXTRACT AND ACT ON THE INFORMATION CONTENT OF STOCK PRICE CRASHES. ScholarBank@NUS Repository.
Abstract: This paper seeks to investigate the ability of institutional investors and stock analysts to extract the information content of a stock price crash about upcoming regime shift in a firm’s performance distribution. Our research shows that both institutional investors and stock analysts are able to extract and act on the information, albeit at a varying degree. Transient institutional investors and investment companies are the best in extracting and incorporating the information content of the stock price crash into their information system. Stock analysts are also able to incorporate the information content, although at a slower rate than institutional investors, as analysts seem to react to the decline in demand from institutional investors before they drop their coverage.
URI: http://scholarbank.nus.edu.sg/handle/10635/147786
Appears in Collections:Bachelor's Theses (Restricted)

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