... supports the hypothesis of Kho (2011) that foreign investors have an informational advantage over domestic investors on overseas information. © 2012 Emerald Publishing Limited 2012 This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute...

... of an Informed trader and future stock return have posltive correlation and that the correlation approaches 1 as current return volatility increases. Utilizing these two predictions. this study suggests a method of measuring informational advantage of a group of investors. To measure degrees of Informational...