Individual, institutional, and specialist trade patterns before and after disclosure

Journal of Financial Research

Volumn 24, Issue 2, 2001, Pages 261-287

  Welker, Michael ^a   Sparks, H Charles ^b  

^a QUEEN S UNIVERSITY   (Canada)

^b University of Alaska   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85015400187     PISSN: 02702592     EISSN: 14756803     Source Type: Journal    
DOI: 10.1111/j.1475-6803.2001.tb00768.x     Document Type: Article

References (23)

1. Bamber, L., 1987, Unexpected earnings, firm size and trading volume around quarterly earnings announcements, Accounting Review 62, 510–32.
2. Bamber, L. and Y. Cheon, 1995, Differential price and volume reactions to accounting earnings announcements, Accounting Review 70, 417–41.
3. Brennan, M., 1995, The individual investor, Journal of Financial Research 18, 59–74.
4. Bushee, B., 1998, The influence of institutional investors on myopic R&D investment behavior, Accounting Review 73, 305–33.
5. Chan, L. and J. Lakonishok, 1993, Institutional trades and intraday stock price behavior, Journal of Financial Economics 33, 173–99.
6. Committee on Corporate Disclosure, 1995, Toward improved disclosure: A search for balance in corporate disclosure, The Toronto Stock Exchange.
7. Cornell, B. and E. Sirri, 1992, The reaction of investors and stock prices to insider trading, Journal of Finance 47, 1031–59.
8. Daley, L., J. Hughes, and J. Rayburn, 1995, The impact of earnings announcements on the permanent price effects of block trades, Journal of Accounting Research 33, 317–34.
9. Francis, J., D. Pagach, and J. Stephan, 1992, The stock market response to earnings announcements released during trading versus non-trading periods, Journal of Accounting Research 30, 165–84.
10. Givoly, D. and D. Palmon, 1985, Insider trading and exploitation of inside information: Some empirical evidence, Journal of Business 58, 69–87.
11. Hirshleifer, D., A. Subrahmanyam, and S. Titman, 1994, Security analysis and trading patterns when some investors receive information before others, Journal of Finance 49, 1665–98.
12. Kavajecz, K., 1999, Specialist's quoted depth and the limit order book, Journal of Finance 54, 747–71.
13. Keown, A. and J. Pinkerton, 1981, Merger announcements and insider trading activity: An empirical investigation, Journal of Finance 36, 855–69.
14. Kiem, D. and A. Madhavan, 1995, Anatomy of the trading process: Empirical evidence on the behavior of institutional traders, Journal of Financial Economics 37, 371–98.
15. Kim, O. and R. Verrecchia, 1991a, Trading volume and price reactions to public announcements, Journal of Accounting Research 29, 302–21.
16. Kim, O. and R. Verrecchia, 1991b, Market reaction to anticipated announcements, Journal of Financial Economics 30, 273–309.
17. Kim, O. and R. Verrecchia, 1994, Market liquidity and volume around earnings announcements, Journal of Accounting and Economics 17, 41–67.
18. Lee, C., 1992, Earnings news and small traders: An intraday analysis, Journal of Accounting and Economics 15, 265–302.
19. Radhakrishna, B., 1995, Who profits from earnings announcements?, Unpublished manuscript, University of Minnesota.
20. Sias, R. and L. Starks, 1997, Institutions and individuals at the turn-of-the-year, Journal of Finance 55, 1543–62.
21. Smith, R., 1995, Conference calls to big investors often leave little guys hung up, Wall Street Journal, June 21, C1, C20.
22. Thompson, R. II, C. Olsen, and J. Dietrich, 1987, Attributes of news about firms: An analysis of firm-specific news reported in the Wall Street Journal Index, Journal of Accounting Research 25, 245–73.
23. Utama, S. and W. Cready, 1997, Institutional ownership, differential predisclosure precision and trading volume at announcement dates, Journal of Accounting and Economics 24, 124–50.