Institutional cross-ownership of peer firms and investment sensitivity to stock price

Institutional cross-ownership of peer firms and investment sensitivity to stock price

Theory suggests that stock price guides managers in corporate decisions as managers learn from price. We reason that cross-ownership lowers information processing costs and increases industry specialization, improving revelatory price efficiency (Bond, Edmans, and Goldstein 2012). Consistent with ou...

Full description

Saved in:
Bibliographic Details
Main Authors: CHO, Young Jun, YANG, Holly I.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2022
Subjects:
cross-ownership
institutional investors
managerial learning
feedback effect of prices
Accounting
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/soa_research/1999
https://ink.library.smu.edu.sg/context/soa_research/article/3026/viewcontent/SSRN_id3682404.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soa_research/1999
https://ink.library.smu.edu.sg/context/soa_research/article/3026/viewcontent/SSRN_id3682404.pdf

Similar Items