Institutional Investors

Distracted Institutional Investors

We investigate how distraction affects the trading behavior of professional asset managers. Exploring detailed transaction-level data, we show that managers with a large fraction of portfolio stocks exhibiting an earnings announcement are significantly less likely to trade in other stocks, suggesting that these announcements absorb attention which is missing for the choice of which stocks to tr...

Long-Term Institutional Investors and social

the investment horizons of institutional investors can affect monitoring incentives which might ultimately make an impact on firm CSR decisions. Hence, this paper investigates the effects of institutional investor’s investment horizons on CSR activities.This research has been carried out using annual data of companies accepted in Tehran Stock Exchange during the period of 2011-2018. By screenin...

Institutional Investors As Owners Conference

The terms of the Fellowship require that I organize a conference related in someway to ethics and business leadership, a rather broad and open-ended mandate. I think the importance of corporate governance in American public companies is clearly related to ethics and business leadership. And I would also say that the complex and rapidly evolving role of institutional owners will see a great deal...

Exploring Options for Institutional Investors

Asset Prices and Institutional Investors∗

Empirical evidence indicates that trades by institutional investors have sizable effects on asset prices, generating phenomena such as index effects, asset-class effects and others. It is difficult to explain such phenomena within standard representative-agent asset pricing models. In this paper, we consider an economy populated by institutional investors alongside standard retail investors. In...