The Buffett Effect

Paweł Robert Smoliński, Siddharth Saridevi · 2026 · SSRN Electronic Journal

DOI: 10.2139/ssrn.7591980 · cited by 0 works (OpenAlex) · open-access PDF

Korean

우리는 인식할 수 있는 투자자에 의한 주식 공개가 비교할 수 있지만 인식할 수 없는 관리자에 의한 반응을 뛰어넘는 비정상적인 시장 반응을 생성하는지 여부를 연구합니다.우리는 버핏 효과를 공개된 새로운 위치에 대한 증가하는 비정상적인 반환으로 정의합니다.우리는 Wikipedia 페이지 보기 및 ProQuest 뉴스 언급에서 인식 지수를 구축합니다.2000년부터 2025년까지의 데이터를 사용하여 24개의 인식할 수 있는 판단 기금의 공개에 대한 시장 반응을 24개의 일치하는 통제 기금의 공개와 비교합니다.

Machine translation (Meta M2M100); the English original follows.

Abstract

We study whether stock disclosures by recognizable investors generate abnormal market reactions beyond the reactions produced by comparable but non-recognizable managers. We define the Buffett effect as the incremental abnormal return to a disclosed new position that is attributable to the public recognition of the disclosing investor. We construct a recognition index from Wikipedia pageviews and ProQuest news mentions. Using data from 2000 to 2025 we compare market reaction to disclosures of 24 recognizable discretionary funds with disclosures of 24 matched control funds. New-position disclos

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Topics: Construct (python library), Business, Copying, Position (finance), Control (management), Monetary economics

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