Dissertation/Thesis Abstract

The effect of concentrated institutional portfolio on stock returns
by Zhang, Haoli, M.Sc., Singapore Management University (Singapore), 2009, 53; 1489322
Abstract (Summary)

This paper examines whether stock return is related to the extent of portfolio concentration on the part of institutional fund managers. There is evidence that large firms are preferred for both concentrated and well-diversified funds. Also, a trading strategy based on concentrated ownership generates positive abnormal return. This implies that informational effect (implied in an increase in concentrated capital) has significant impacts and predictability on returns. Meanwhile, we do not find diversified ownership has predictability on future stock returns.

Indexing (document details)
Advisor: Chan, Justin
School: Singapore Management University (Singapore)
Department: Lee Kong Chian School of Business
School Location: Republic of Singapore
Source: MAI 49/04M, Masters Abstracts International
Subjects: Business administration, Finance
Keywords: Diversifying behavior, Fund performance measures, Fund portfolios, Institutional investors, Stock price
Publication Number: 1489322
ISBN: 978-1-124-50317-2
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