Investor status is often perceived as a proxy for sophistication, competence and performance. Whereas individuals once dominated corporate securities markets, institutional investors have recently emerged as the dominant power player (Welles, 1975). Institutional investors presumably gain market share at the expense of individuals, since the compounding effect of superior performance resulting from their competitive advantages provides then still more funds to invest (Train, 1982), which phenomenon is magnified by declining individual savings and increasing spending rates. The growing complexity, sophistication and competitiveness of the corporate securities markets combine to favor the institutional over the individual investor (Ellis, 1975; Welles, 1975).
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Implications of Individual Versus Institutional Real Estate Investing Strategies
Stephen E. Roulac
- Springer Netherlands
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