Institutional Investors and Equity Prices

By Paul A. Gompers, Andrew Metrick. 2001

2,084 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/207baf423c99aded245d0e125bda55cf2187439b

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Citations in the corpus

Do Dividend Clienteles Exist? Evidence on Dividend Preferences of Retail Investors (2006, neutral): “A detailed description of the institutional ownership data is available in Gompers and Metrick (2001).”
Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s (2001, positive): “Interestingly, Gompers and Metrick (2001) find that returns are higher in companies with greater institutional ownership.”
Governance Mechanisms and Equity Prices (2005, positive): “…BLOCK 6.21% 6.92% 7.45% 8.11% 75% percentile of BLOCK 9.32% 9.91% 10.26% 11.22% 25% percentile of PP 0.66% 1.30% 1.58% 1.28% 50% percentile of PP 2.40% 2.88% 2.70% 2.16% 75% percentile of PP 4.25% 4.61% 3.86% 2.87% evidence on increasing overall institutional ownership (Gompers and Metrick (2001)).”
How Do Foreign Institutional Investors Enhance Firm Innovation? (2017, positive): “Institutional Ownership 16 Following the literature on institutional investors (e.g., Gompers and Metrick (2001), Aggarwal et al. (2011)), we use institutional ownership at the latest report date of a calendar year and construct ownership variables as follows.”
The Divergence of Liquidity Commonality in the Cross-Section of Stocks (2007, background): “…indexation and institutionalization often have different effects on the behavior of large firms’ shares than on the behavior of small firms’ shares.2 Gompers and Metrick (2001) find that institutional investors tend to increase demand for large-cap stocks and decrease demand for small-cap stocks,…”
What Happened to the Quants in August 2007?: Evidence from Factors and Transactions Data (2010, background): “Studies such as Huberman and Halka (2001), Hasbrouck and Seppi (2001), and Chordia, Roll and Subrahmanyam (2000,2001) have documented commonality in liquidity using different measures and techniques.”
The Role of Shorting, Firm Size, and Time on Market Anomalies (2013, result): “Aside from SMB, which has a negative relation with the level of institutional ownership and a positive relation with changes in institutional ownership, consistent with Gompers and Metrick (2001), no significant relation exists between trading strategy profits and institutional ownership levels or c”
Executive Compensation: Where We Are, and How We Got There (2013, background): “The growing importance of shareholder activists and large institutional investors (Gompers and Metrick (2001)) increasingly pressured firms to tie pay more closely to stock-price performance.”