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Market feedback beyond stock prices: Do managers use information from (smart) investors' trades to make investment decisions?
KC Wei, S Zhang - Available at SSRN 5126337, 2023 - papers.ssrn.com
Institutional investors who exhibit superior performance in the firm's industry (“top investors”)
are likely to have an information advantage about the industry. We predict that the trading …
are likely to have an information advantage about the industry. We predict that the trading …