Institutional Investors Heterogeneity, Future Earnings and The Informativeness of Stock Prices

被引：1

作者：

Ding Fangfei ^{[1
]}

Hou Ningning ^{[1
]}

Li Su ^{[1
]}

机构：

[1] Hunan Univ, Sch Commercial & Management, Changsha 410006, Hunan, Peoples R China

来源：

2013 THIRD INTERNATIONAL CONFERENCE ON INTELLIGENT SYSTEM DESIGN AND ENGINEERING APPLICATIONS (ISDEA) | 2013年

关键词：

Pressure-resistant institutional investors; Pressure-sensitive institutional investors; Abnormal return; Unexpected earnings;

D O I：

10.1109/ISDEA.2012.210

中图分类号：

TP18 [人工智能理论];

学科分类号：

081104 ; 0812 ; 0835 ; 1405 ;

摘要：

this paper test the effects of different institutional investors on the extent to which stock prices reflect future earnings. The study find that the extent to which stock prices reflects future earnings increases with the institutional ownership. but further divided into types of institutional investors, only pressure-resistant institutional investors can significantly enhance the in formativeness of stock prices for future earnings while pressure-sensitive institutional investors cannot. So it can be said that the incremental impact of institutional investors on the extent to which stock prices reflect future earnings due to pressure-resistant institutional investors.

引用

页码：887 / 890

页数：4

共 50 条

[11] Fundamental analysis, future earnings, and stock prices
Abarbanell, JS
Bushee, BJ
JOURNAL OF ACCOUNTING RESEARCH, 1997, 35 (01) : 1 - 24
[12] Climate shocks, institutional investors, and the information content of stock prices
Blanco, Ivan
Martin-Flores, JoseM.
Remesal, Alvaro
JOURNAL OF CORPORATE FINANCE, 2024, 86
[13] Dominant institutional control and earnings informativeness
Bona Sanchez, Carolina
Perez Aleman, Jeronimo
Santana Martin, Domingo J.
REVISTA ESPANOLA DE FINANCIACION Y CONTABILIDAD-SPANISH JOURNAL OF FINANCE AND ACCOUNTING, 2013, 42 (159): : 371 - 394
[14] The impact of foreign institutional investors on the information content of Chinese stock prices
Xie, Jun
Yu, Meixia
Gao, Bin
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 96
[15] Foreign media slant, foreign investors, and informativeness of earnings
Tsang, Albert
Wang, Kun Tracy
Zhu, Nathan Zhenghang
REVIEW OF ACCOUNTING STUDIES, 2025, 30 (01) : 79 - 118
[16] Real Earnings Management and Future Crash Risk in Stock Prices
Sui Suping
Li Yuanhui
Proceedings of the Second International Symposium - Management, Innovation and Development, 2015, : 530 - 535
[17] Identifiable intangible asset disclosures, stock prices and future earnings
Ritter, Adam
Wells, Peter
ACCOUNTING AND FINANCE, 2006, 46 (05): : 843 - 863
[18] Asset Prices and Institutional Investors
Basak, Suleyman
Pavlova, Anna
AMERICAN ECONOMIC REVIEW, 2013, 103 (05): : 1728 - 1758
[19] Earnings Surprise Implicit in Stock Prices: Which Earnings Forecasting Models are Investors Using and What Determines Their Choice?
Zolotoy, Leon
JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2012, 39 (9-10) : 1161 - 1179
[20] Institutional investors and equity prices
Gompers, PA
Metrick, A
QUARTERLY JOURNAL OF ECONOMICS, 2001, 116 (01): : 229 - 259

← 1 2 3 4 5 →