Download or read book The Investment Performance and Trading Behavior of Institutional Investors written by Christo A. Pirinsky and published by . This book was released on 2001 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional types differ in their trading decisions - banks, insurance companies, and investment advisors are more likely to act in conformity with their peers, corporate and state pension funds are not significantly influenced by previous institutional trades, while mutual funds exhibit contrarian behavior. Institutional investors further exhibit the tendency to target market weights. The results relate to a series of theoretical findings about herding and strategic trading in capital markets.