Institutional Investor Field Research: The Company’s Fundamentals are Driven by Investor Attention
Boualem Aliouat () and
Fateh Saci
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Boualem Aliouat: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur
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Abstract:
Based on the data from all listed companies on the Shenzhen Stock Exchange from 2015 to 2019, this chapter examines the relationship between the on-site research of institutional investors and the information about the company's fundamentals as well as the investor attention. The study found that investor focus drives institutional investors to conduct research and this role has strong industry differentiation. In addition to this, specific corporate fundamentals also drive investors to list companies as research objects, and profitability indicators do not produce such an effect. The conclusion is still valid after replacing the profit indicator and checking the multicollinearity between variables. This chapter studies the possible relationship between the three variables from a new perspective, and has a certain significance for institutional investors and companies.
Keywords: Institutional Investors; Field Research; Company Fundamentals; Investor Attention (search for similar items in EconPapers)
Date: 2022-12-15
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Published in Springer, Series: Contributions to Finance and Accounting. ESSAYS in BEHAVIORAL FINANCE AND ASSET PRICES, Springer, Series: Contributions to Finance and Accounting, 2022
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03774412
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