| Author: | Potter, G. |
| Title: | Accounting earnings announcements, institutional investor concentration, and common stock returns |
| Journal: | Journal of Accounting Research
1992 : SPRING, VOL. 30, p. 146-155 |
| Index terms: | ACCOUNTING EARNINGS INSTITUTIONAL INVESTORS STOCK RETURNS |
| Language: | eng |
| Abstract: | This research finds a positive association between percentage institutional ownership and security price variability at quarterly earnings announcements after controlling for size. This result is consistent with the view that a concentration of institutional investor ownership reduces the informativeness of prices prior to an earnings announcement. Further research is needed to determine whether it is institutional investor presence in the information markets, the structure of institutional trading in the capital market, or some other factors not incorporated in this research design which produces this result. |
SCIMA