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Institutional trading and satellite data

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  • Ha, JinGi

Abstract

This study investigates the impact of satellite data availability on the market timing abilities of institutional investors. By analyzing the introduction of satellite coverage for major retailers, this study finds that access to satellite data significantly enhances the return predictability of daily institutional trading. This improvement is more pronounced for stocks with severe information asymmetry and is driven by non-hedge funds. These results suggest that institutions, especially non-hedge funds, actively adjust their trading positions on a daily basis in response to satellite data.

Suggested Citation

  • Ha, JinGi, 2025. "Institutional trading and satellite data," Finance Research Letters, Elsevier, vol. 71(C).
    • Handle: RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324013709
    DOI: 10.1016/j.frl.2024.106341
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    References listed on IDEAS

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    More about this item

    Keywords

    Institutional trading; Satellite data; Hedge funds;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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