Are Institutional Investors Really Skilled or Merely Opportunistic?

Using a large dataset of institutional trades, we examine whether superior intraquarter trading performance of institutional investors reflects superior trading skill or opportunistic access to information. Our conjecture is that true investment skill would not depend upon geographical proximity bet...

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Bibliographic Details
Main Authors: BERNILE, Gennaro, Kumar, Alok, Sulaeman, Johan, Wang, Qin
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
Subjects:
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/4477
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2291690
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Institution: Singapore Management University
Language: English