Speculative Retail Trading and Asset Prices

Published: Jan 1, 2011
Abstract
This paper examines the characteristics and pricing of stocks that are actively traded by speculative null investors. We find that stocks with high retail trading proportion (RTP) have strong lottery features and they attract null investors who are known to exhibit a strong propensity to gamble with stocks. High levels of RTP also reflect active trading by risk-seeking realization utility investors. Stocks whose trading are dominated by...
Paper Details
Title
Speculative Retail Trading and Asset Prices
Published Date
Jan 1, 2011
Citation AnalysisPro
  • Scinapse’s Top 10 Citation Journals & Affiliations graph reveals the quality and authenticity of citations received by a paper.
  • Discover whether citations have been inflated due to self-citations, or if citations include institutional bias.