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| Tekijä: | Eakins, S. |
| Otsikko: | The determinants of institutional demand for common stock: tests of the CAPM vs. individual stock attributes |
| Lehti: | International Review of Financial Analysis
1996 : VOL. 5:3, p. 237-258 |
| Asiasana: | FINANCIAL ANALYSIS STOCKS DEMAND |
| Kieli: | eng |
| Tiivistelmä: | This study examines the determinants of institutional investment demand for common stock. The authors first estimate the demand function for seven classes of institutions using mean return and CAPM risk measures (beta and standard error). The authors then estimate the demand function for the same seven institutional classes using the first four moments of the returns distribution calculated in the conventional fashion on individual stocks. The authors' objective is to determine whether institutional investment decisions are influenced by the CAPM model attributes or by individual stock attributes. |
SCIMA