Browsing by Author "Birgersson, Johan"

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    Investigating the Nature of Retail Investor Activity
    (2021-07-07) Birgersson, Johan; Carlén, Samuel; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
    We study the nature of retail investor activity and how this differs when looking at pe-riods in connection with quarterly reports and when looking at a special period on the market like Covid-19. Further, we investigate how this differs between S&P500 stocks and meme stocks. We find that retail order imbalances can predict positive future returns for S&P500 stocks and find suggestive evidence that this doesn’t differ significantly for periods in connection with reports. We find that this doesn’t differ significantly during the initial impact of Covid-19. We do however find evidence that retail order imbal-ances predict negative returns for meme stocks, contrary to the behavior exhibited in the S&P500 stocks and in previous literature.
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    Proximity to Dissimilar Firms and Universities: Investigating the Impact on Start-up Survival Rates in Sweden and the United States
    (2023-07-19) Birgersson, Johan; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
    This study explores the impact of proximity to dissimilar firms and universities on start-up survival rates in Sweden and the United States. By investigating the relationship between firm density and start-up survival in two countries with distinct institutional contexts, this research aims to contribute to the existing literature. Using survival analysis and data from CB Insights, SCB, and the U.S. Department of Education, it is found that a higher number of firms within a ZIP code or city significantly decreases the risk of start-up failure or discontinuation in both countries. However, the effect of proximity to universities on start-up survival rates varies depending on the type of graduates present, revealing contrasting outcomes to the Knowledge Spillover Theory of Entrepreneurship. Our findings carry important implications for policymakers, entrepreneurs, and researchers working to foster thriving start-up ecosystems, while also highlighting the need for further research to better understand the underlying factors influencing start-up survival rates in various contexts.