Information advantages of large institutional owners
The relationship between the size of the largest institutional owner's shares and the bid-ask spread in share prices is analyzed. Results indicate that the largest institutional owners solely are recognized to have an information advantage over other share owners.
Publication Name: Strategic Management Journal
Ownership structure, corporate governance, and firm value: evidence from the East Asian financial crisis
Stock returns were 10-20% lower for East Asian firms with managers as controlling shareholders in this study of 800 companies during the late 1990s.
Publication Name: Journal of Finance
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