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Publications of Michela Verardo

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Academic journals

Does Herding Behavior Reveal Skill? An Analysis of Mutual Fund Performance

Journal of Finance, 73 (5), 2229-2269.

October 2018
Hao Jiang
Michela Verardo

Discussion Papers

Does herding behavior reveal skill? An analysis of mutual fund performance

This paper finds that fund herding, defined as the tendency of a mutual fund to follow past aggregate institutional trades, is an important predictor...

March 2013
No 35
Hao Jiang
Michela Verardo

Academic journals

Institutional trade persistence and long-term equity returns

The Journal of Finance, 66 (2). pp. 635-653. 

March 2011
Amil Dasgupta
Andrea Prat
Michela Verardo

Academic journals

The Price Impact of Institutional Herding

Review of Financial Studies, 24 (3), 892-925 

March 2011
Amil Dasgupta
Andrea Prat
Michela Verardo

Discussion Papers

Institutional Trade Persistence and Long-term Equity Returns

Recent studies show that single-quarter institutional herding positively predicts short-term returns. Motivated by the theoretical herding literature...

November 2010
No 14
Amil Dasgupta
Andrea Prat
Michela Verardo

Discussion Papers

The Price Impact of Institutional Herding

In this paper we develop a simple theoretical model to analyze the impact of institutional herding on asset prices. A growing empirical literature has...

April 2010
No 11
Amil Dasgupta
Andrea Prat
Michela Verardo

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Latest research: Asset pricing implications of value-weighte ...

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Finance Theory Group - 5th Summer Meeting

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Delegation Chains

Bond Funds and Credit Risk

Dynamic Asset-Backed Security Design

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