id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ajfa-194	Hribar, Paul; Jenkins, Nicole; Wang, Juan	Institutional investor and accounting restatement	2010	31	.pdf	application/pdf	14889	582	42	We show that transient institutional investors, defined as institutions with short investment horizons and high portfolio turnover, significantly reduce their holdings in a restating firm at least one quarter prior to the quarter of the restatement announcement. While we do not expect that these institutions are less sophisticated than transient institutional investors, their investment styles are such that they are less likely to be actively engaged in information processing to make short-term trading decisions.	cache/ajfa-194.pdf	txt/ajfa-194.txt