Tag: financial markets
Institutional investors and information acquisition: Implications for asset prices and informational efficiency
The research of Dr Adrian Buss (INSEAD) and Matthijs Breugem (Collegio Carlo Alberto) explores how the growth of assets under management by institutional investors with relative performance concerns influences the efficiency of financial markets, asset prices and investors’ portfolio returns. The team have developed a theoretical framework which illustrates, among others, that ‘benchmarking’ distorts the informational efficiency of stock prices. […]