Institutional trading and satellite data

JinGi Ha

Finance Research Letters, 2025, vol. 71, issue C

Abstract: This study investigates the impact of satellite data availability on the market timing abilities of institutional investors. By analyzing the introduction of satellite coverage for major retailers, this study finds that access to satellite data significantly enhances the return predictability of daily institutional trading. This improvement is more pronounced for stocks with severe information asymmetry and is driven by non-hedge funds. These results suggest that institutions, especially non-hedge funds, actively adjust their trading positions on a daily basis in response to satellite data.

Keywords: Institutional trading; Satellite data; Hedge funds (search for similar items in EconPapers)
JEL-codes: D83 G11 G14 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324013709

DOI: 10.1016/j.frl.2024.106341

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