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Institutional Investors and the Beta...

Jiang, Yuxiang.

Institutional Investors and the Beta Anomaly.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Institutional Investors and the Beta Anomaly./
作者:	Jiang, Yuxiang.
面頁冊數:	1 online resource (73 pages)
附註:	Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.
Contained By:	Dissertation Abstracts International79-10A(E).
標題:	Finance. -
電子資源:	click for full text (PQDT)
ISBN:	9780438049796

Institutional Investors and the Beta Anomaly.
Jiang, Yuxiang.

Institutional Investors and the Beta Anomaly. - 1 online resource (73 pages)

Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.

Thesis (Ph.D.)--State University of New York at Buffalo, 2018.

Includes bibliographical references

I investigate the impact of institutional ownership on the beta anomaly and find that the beta anomaly is concentrated in stocks with high institutional ownership. Further examination shows that only ownership from short-term institutional investors exacerbates the beta anomaly. I consider several explanations and find that: (i) stocks with greater short-term institutional ownership have higher arbitrage costs; (ii) trading of short-term institutional investors leads to the reversal of the beta anomaly; (iii) short-term institutional investors are more responsive to earnings. These results provide evidence that institutional investment horizons play an important role in explaining the beta anomaly.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780438049796Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Institutional Investors and the Beta Anomaly.
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035 $a (MiAaPQ)buffalo:15820
035 $a AAI10823868
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Jiang, Yuxiang. $3 1193524
245 1 0 $a Institutional Investors and the Beta Anomaly.
264 0 $c 2018
300 $a 1 online resource (73 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.
500 $a Adviser: Joseph P. Ogden.
502 $a Thesis (Ph.D.)--State University of New York at Buffalo, 2018.
504 $a Includes bibliographical references
520 $a I investigate the impact of institutional ownership on the beta anomaly and find that the beta anomaly is concentrated in stocks with high institutional ownership. Further examination shows that only ownership from short-term institutional investors exacerbates the beta anomaly. I consider several explanations and find that: (i) stocks with greater short-term institutional ownership have higher arbitrage costs; (ii) trading of short-term institutional investors leads to the reversal of the beta anomaly; (iii) short-term institutional investors are more responsive to earnings. These results provide evidence that institutional investment horizons play an important role in explaining the beta anomaly.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a State University of New York at Buffalo. $b Finance. $3 1179104
773 0 $t Dissertation Abstracts International $g 79-10A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10823868 $z click for full text (PQDT)

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