Table 7 Univariate Test for H2 myopic...

Table 7

Univariate Test for H2

myopic investor ownership	Observations	AH price difference
High	729	1.996
Low	727	1.700
AH price difference	1,456	0.2963^***

Note(s): AH price difference is measured as $P r i c e d i f_{i, t} = \frac{P r i c e_{A} * e x c h a n g e r a t e}{P r i c e_{H}}$ ⁠; High/Low myopic investor ownership is classified based on the median of mtop (1- top 10 shareholder ownership). ^*, ^** and ^*** indicate statistically significant at the 10%, 5% and 1% levels, respectively

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