The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
International Evidence on Institutional Trading Behavior and Price Impact
Open accessAbstract
This study characterizes institutional trading in international stocks from 37 countries during 1997 to 1998 and 2001. We find that the underlying market condition is a major determinant of the price impact and, more importantly, of the asymmetry between price impacts of institutional buy and sell orders. In bullish markets, institutional purchases have a bigger price impact than sells; however, in the bearish markets, sells have a higher price impact. This differs from previous findings on price impact asymmetry. Our study further suggests that price impact varies depending on order characteristics, firm‐specific factors, and cross‐country differences.
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Citations
Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Cited by
Do Domestic Investors Have an Edge? The Trading Experience of Foreign Investors in Korea
Choe, H., Kho, B.-C., & Stulz, R. M. (2005) · Review of Financial Studies · doi:10.1093/rfs/hhi028 · Cited by 616
Metadata
- Authors
- Chiyachantana, C. N., Jain, P. K., Jiang, C., & Wood, R. A.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2004-03-25
- Volume
- 59
- Issue
- 2
- Pages
- 869-898
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2117701261
- Cited by
- 286
- References
- 1
- FWCI
- 24.38
- Type
- journal article
- Language
- en
- Open access
- green
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- Chiyachantana, C. N., Jain, P. K., Jiang, C., & Wood, R. A. (2004). International Evidence on Institutional Trading Behavior and Price Impact. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2004.00651.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
