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Showing 1 to 1 of 1 for “"institutional herding"”.
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Does Investment Horizon Matter? Disentangling the Effect of Institutional Herding on Stock Prices
Existing studies document that institutional herding has a stabilizing effect on stock prices, as stock returns are positively correlated with herding over one- to three-quarter horizons. The literature also shows that short-term institutions are better informed than long-term institutions. …