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Overconfidence and Investor Size
Social Science Research Network
Recent research documents that institutional or large investors act as antagonists to other investors by showing opposite trading behavior following disclosure of new information. Using an extremely comprehensive official transactions data set from Finland, we set out to explore the interrelation between investor size and behavior. More specifically, we test whether investor size is positively (negatively) correlated with investor reaction following positive (negative) news. We document robustdoi:10.2139/ssrn.314419 fatcat:usx3whtcubceblfiabpu65a2fu