Abstract The “Post-Earnings-Announcement Drift” refers to an anomaly in financial markets.
It describes the drift of a firm's stock price in the direction of the firm's earnings surprise for an …

Socially responsible (SR) institutions tend to focus more on the environmental, social, and
governance (ESG) performance and less on quantitative signals of value. Consistent with …

From 1997 to March 2000, as technology stocks rose more than five‐fold, institutions bought
more new technology supply than individuals. Among institutions, hedge funds were the …

Recent work suggests that sentiment traders shift from safer to more speculative stocks
when sentiment increases. Exploiting these cross‐sectional patterns and changes in share …

This study uses insights from tax practitioners and tax authorities to define and develop an
estimate of ex ante tax risk that is independent of common tax outcomes studied in prior …

Traditional finance theory posits a positive risk–return relation, but empirical evidence is
inconclusive. Retail investor sentiment has long been viewed as a distorting factor, while …

Inconsistent with prior literature on the US stock market, our evidence shows the negative
role of institutional investors who exacerbate subsequent crash risk in China. This is …

This paper documents that the uprising ESG investing constitutes a new “friction” for stock
market efficiency after 2003. Socially responsible institutions underreact to mispricing …

Purpose In this study, the authors argue that the private information obtained and transmitted
by institutions during the corporate visits can alleviate the degree of information asymmetry …

This paper studies the impact of market opening to FIIs, on Indian stock market behavior.
India announced its policy regarding the opening of stock market to FIIs for investment in …