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...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2022
|
| Subjects: | |
| 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 |