Institutional Ownership and the Extent to which Stock Prices Reflect Future Earnings

By J. Jiambalvo, Shivaram Rajgopal, Mohan Venkatachalam. 2002

451 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/0b485f8ef4baf2f5a376af6b937ba481fd0df0b5

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Citations in the corpus

Capitalization of R&D and the Informativeness of Stock Prices (2007, methodology): “8Other recent papers using the informativeness measure are Ayres and Freeman (2001), Jiambalvo et al. (2002), Durnev et al. (2003), and Piotroski and Roulstone (2004).”
Retail investor attention and stock price crash risk: Evidence from China (2019, background): “Thus, as institutional ownership increases, stock prices should reflect more concurrent information that is predictive of future earnings (Jiambalvo et al., 2002).”
Conference Calls and Information Asymmetry (2004, background): “These results are consistent with Easley et al. (1998) and Jiambalvo et al. (2002).”
The empirical relationship between ownership characteristics and audit fees (2007, background): “The institutional investors, on average, are better informed than individual investors because of their large-scale development and analysis of timely and valuable firm-specific information (Balsam et al., 2002; Jiambalvo et al., 2002; Wahal and McConnell, 2000).”
Board interlocks and the diffusion of disclosure policy (2014, unknown): “Jiambalvo et al. (2002) show that firms with a larger analyst following and higher institutional ownership are more likely to have informed investors.”
The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices (2004, background): “As noted earlier, Jiambalvo, Rajgopal and Venkatachalam [2002] document that higher levels of institutional holdings contribute to more timely prices.”
Beating Earnings Benchmarks and the Cost of Debt (2008, methodology): “2 Prior research uses high institutional ownership to proxy for investor sophistication and richer firm information environments (e.g., Ayers and Freeman 2003; Bartov et al. 2000; Battalio and Mendenhall 2005; Collins et al. 2003; Hand 1990; Jiambalvo et al. 2002; and Walther 1997).”
Evidence that Analyst Following and Institutional Ownership Accelerate the Pricing of Future Earnings (2003, background): “2. Jiambalvo, Rajgopal and Venkatachalam (2002) find that price leads of earnings increase with institutional holdings but not with analyst following.”