| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 961569 | Journal of Financial Markets | 2013 | 21 Pages |
Abstract
⺠We examine if retail investors local to a company have an information advantage. ⺠Large trading imbalances by local investors predict earnings announcement returns. ⺠Local information advantage is pronounced for small and medium-sized firms. ⺠Local information advantage is absent for large firms. ⺠Local investors' information advantage comes at the expense of nonlocal traders.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Thomas Berry, Keith Jacks Gamble,