Article ID Journal Published Year Pages File Type
5089770 Journal of Banking & Finance 2012 15 Pages PDF
Abstract
► Models stock price, institutional ownership and analyst following relationships. ► Shows that institutions attenuate pressure on firms to set lower share prices. ► Refutes causal relation between share price and institutional ownership. ► Explains observed cross-sectional variation in stock price levels. ► Sheds new light on observed links between share prices and firm fundamentals.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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