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SUMMARY:Why Do Institutions Delay Reporting Their Shareholdings? Evidence 
 from Form 13F - Susan Christoffersen is an Associate Professor of Finance\
 , Rotman School of Management
DTSTART:20151126T130000Z
DTEND:20151126T140000Z
UID:TALK61138@talks.cam.ac.uk
CONTACT:Cerf Admin
DESCRIPTION:Institutional investors are allowed to delay their disclosures
  of quarter-end holdings via form 13F for up to 45 days. This forbearance 
 may help protect the institutions from potentially damaging behavior by ot
 her traders\, in particular from free-riding copycatters and from front-ru
 nners. It also may help the institutions hide their voting power\, and thi
 s has prompted public corporations to request a much shorter maximum repor
 ting lag. We look at 14 years of 13F filings to gauge the role of these th
 ree motives in the decision to delay disclosure\, and the results indicate
  that front-running and voting\, but not copycatting\, motivate delays.
LOCATION:Room W2.02 Judge Business School
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