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Cited by 1,002

The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.

Individual Investor Trading and Stock Returns

Open access
KANIEL, RON, SAAR, GIDEON, TITMAN, SHERIDAN·2008·The Journal of Finance
DOI 10.1111/j.1540-6261.2008.01316.x
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Abstract

This paper investigates the dynamic relation between net individual investor trading and short‐horizon returns for a large cross‐section of NYSE stocks. The evidence indicates that individuals tend to buy stocks following declines in the previous month and sell following price increases. We document positive excess returns in the month following intense buying by individuals and negative excess returns after individuals sell, which we show is distinct from the previously shown past return or volume effects. The patterns we document are consistent with the notion that risk‐averse individuals provide liquidity to meet institutional demand for immediacy.

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Crossref · 10.1111/j.1540-6261.2008.01316.x

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Metadata

Authors
KANIEL, R., SAAR, G., & TITMAN, S.
Venue
The Journal of Finance
Publisher
Wiley
Published
2008-01-10
Volume
63
Issue
1
Pages
273-310
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2008.01316.x
OpenAlex
W3122720375
Cited by
1,002
References
2
FWCI
88.07
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Individual Investor Trading and Stock Returns. https://app.cochat.ai/papers/10.1111/j.1540-6261.2008.01316.x
The paper
KANIEL, R., SAAR, G., & TITMAN, S. (2008). Individual Investor Trading and Stock Returns. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2008.01316.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.