How better informed are the institutional investors?

Jinghan Cai, Jia He and Jibao He

Economics Letters, 2010, vol. 106, issue 3, 234-237

Abstract: We extend the EKOP model and estimate the probability of informed trading of institutions (SPIN) and individuals (DPIN) respectively. Using a unique dataset of Chinese stock market, we confirm that institutions are better informed by documenting a significantly higher SPIN.

Keywords: Probability; of; informed; trading; Institutional; investors; Individual; investors (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:106:y:2010:i:3:p:234-237

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