Student or educator? Sign up with your school email and get 6 months of Pro free.
CoChat
Sign Up
Cited by 359

The DOI matches its Crossref record; 65 of the 65 references it cites were found in a registry or an index.

Asset Prices and Institutional Investors

Basak, Suleyman, Pavlova, Anna·2013·American Economic Review
DOI 10.1257/aer.103.5.1728
Open this paper in CoChat — free account

Abstract

We consider an economy populated by institutional investors alongside standard retail investors. Institutions care about their performance relative to a certain index. Our framework is tractable, admitting exact closed-form expressions, and produces the following analytical results. We find that institutions tilt their portfolios towards stocks that compose their benchmark index. The resulting price pressure boosts index stocks. By demanding more risky stocks than retail investors, institutions amplify the index stock volatilities and aggregate stock market volatility and give rise to countercyclical Sharpe ratios. Trades by institutions induce excess correlations among stocks that belong to their benchmark, generating an asset-class effect. (JEL G12, G23)

Overview

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Integrity signals

Registry

Crossref · 10.1257/aer.103.5.1728

Cites

65 of 65 references verified0 citation errors · 0 not checkable

Statistics

Verification

Claims the paper makes

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Self-check

Percentages, sums and reported differences re-computed from the paper’s own numbers.

The self-check needs the paper’s full text.

Citations

Cites

Show all 65 references

Cited by

See all 359

Metadata

Authors
Basak, S., & Pavlova, A.
Venue
American Economic Review
Publisher
American Economic Association
Published
2013-08-01
Volume
103
Issue
5
Pages
1728-1758
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.103.5.1728
OpenAlex
W3122353049
Cited by
359
References
65
FWCI
43.04
Type
journal article
Language
en
Open access
closed

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review

How to cite

Cite CoChat for the checks on this page, and the paper for its own findings.

This page
CoChat. (2026). Citation check: Asset Prices and Institutional Investors. https://app.cochat.ai/papers/10.1257/aer.103.5.1728
The paper
Basak, S., & Pavlova, A. (2013). Asset Prices and Institutional Investors. American Economic Review. https://doi.org/10.1257/aer.103.5.1728

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.