Institutional investor is supposed to be more powerful than individual investor from the perspectives of regularity authority and scholar, but the results are mixed. Using the data of listed company in China, the paper presents a comparative study on the impacts of institutional investor and individual investor on investment risk. It shows that the scale and ownership of institutional investor ...

Board Independence and Corporate Governance: Evidence from Director Resignations. (May 2005) Manu Gupta, B.E., South Gujarat University; M.I.B., Indian Institute of Foreign Trade Chair of Advisory Committee: Dr. L. Paige Fields As evident from recent changes in NYSE and Nasdaq listing requirements, board independence is considered an important constituent of firms’ corporate governance structur...

Behavioral Finance aims to explain empirical anomalies by introducing investor psychology as a determinant of asset pricing. Two kinds of anomalies, namely underreaction and overreaction, have been established by an impressive record of empirical work. While underreaction defines a slow adjustment of prices to corporate events or announcements, overreaction deals with extreme stock price reacti...

In this paper we examine the proposition that small investor sentiment, measured by the change in the discount/premium on closed-end funds, is an important factor in stock returns. We conduct an out-ofsample test of the investor sentiment hypothesis in a market environment that is more likely to be prone to investor sentiment than the U.S.. We fail to provide supporting evidence of the claim of...

This paper analyzes the reaction of stock returns to news about the state of the economy. We develop a general equilibrium asset pricing model where the investor learns about the growth rate of the economy through two sources of information, dividend realizations and regularly scheduled announcements about the state of the economy. We distinguish between dividend news and the unexpected part of...

Abstract Subject and purpose of work: This paper explores whether herding behavior is formed according to the type investor, how long transmission occurs, identifies big reaction flow connects between investors. Materials methods: The population in this study are companies whose shares listed LQ45 index list for period January 2015 December 2017 on Indonesia Stock Exchange. To find out further ...

in state-investor dispute, investor tends that umbrella clause transfers all contractual claims to treaty claims. by contracts, state follows narrow interpretation of this clause. up to ilc articles, establishing of responsibility of state for breach of contract requires tow preconditions. first state is merely responsible when state condoct has been of governmental nature and second is that br...

In this research the impact of media-richness on the investor reaction to earnings announcements is investigated. To this end, unstructured (high-richness) sources of analyst opinion are subjected to text-mining and combined with structured (low-richness) sources of analyst opinion, as well as other commonly used structured data relevant to company performance. Results indicate that equivocalit...