Do Hedge Funds Possess Private Information in IPO Stocks? Evidence from Post-IPO Holdings
Qian, Hong and Zhong, Zhaodong, Do Hedge Funds Possess Private Information in IPO Stocks? Evidence from Post-IPO Holdings (June 15, 2014). Available at SSRN: http://ssrn.com/abstract=2456025 “Using hedge funds’ holdings of IPO stocks, we find that stocks with hedge fund holdings beyond what can be explained by publicly available information yield abnormal returns, suggesting that hedge funds …