Information Asymmetry, Market Liquidity and Abnormal Returns

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“…In recent years, however, the literature has focused on the direct predictions of stock price movement using stocks' fundamental and technical information with varying success rates (Ye & Schuller, 2021). Tsai, Tzang, & Chang (2020) divided their study into groups based on the proportion of individual and institutional shareholdings and examined the relationship between information asymmetry and abnormal returns in each group. They also investigate the link between information asymmetry and abnormal returns, among other factors.…”