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The Society for Financial Studies
Price Impact Asymmetry of Block Trades: An Institutional Trading
ExplanationAuthor(s): Gideon SaarSource: The Review of Financial
Studies, Vol. 14, No. 4 (Winter, 2001), pp. 1153-1181Published by:
Oxford University Press. Sponsor: The Society for Financial
Studies.
Stable URL: http://www.jstor.org/stable/2696738Accessed:
11/10/2009 22:33
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Bad Destiny, Price Will Fall
Private or research
Information signal arrives
Good destin , Price Will Rise
No Information signal
Informed
blocks
Observed
Permanen
t Price
Impact
Outcome
+ positive
N/A
- negative
+ positive
+ positive
N/A
+ positive
- negative
0 zero
0
0
0
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