Three essays on investors' trading motivation = 투자자의 금융거래 동기에 관한 연구

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This thesis provides a comprehensive analysis of (institutional) investors' trading motivation and its impacts on financial markets including the stock and options markets. The first chapter investigates the potential for informed investors' price manipulation with options prior to seasoned equity offerings (SEOs). To the extant, the second chapter provides evidence on informed trading in the options market prior to SEOs and its heterogeneous return predictability over different investment horizon with respect to options' time-to-expiration. Finally, the third chapter identifies the heterogeneity among short-term institutional investors by fund concentration, one who contributes to market informativeness and the other who herds and erodes market stability. This thesis is expected to contribute to understanding the role of (institutional) investors in financial markets, especially, of which multi-market trading is available around the important corporate event.
Advisors
Lee, In Mooresearcher이인무researcher
Description
한국과학기술원 :경영공학부,
Publisher
한국과학기술원
Issue Date
2017
Identifier
325007
Language
eng
Description

학위논문(박사) - 한국과학기술원 : 경영공학부, 2017.8,[iv, 130 p. :]

Keywords

옵션▼a기업재무▼a유상증자▼a주가조; 시장 미시구조▼a기관 투자자▼a투자기간▼a투자 집중도▼a시장 정보성▼a시장 안정성; option▼acorporate finance▼aseasoned equity offering▼amarket manipulation▼amarket microstructure▼ainstitutional investor▼ainvestment horizon▼afund concentration▼amarket informativeness▼amarket stability

URI
http://hdl.handle.net/10203/241657
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=719365&flag=dissertation
Appears in Collection
MT-Theses_Ph.D.(박사논문)
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