search query: @author Loderer, C. / total: 11
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| Author: | Loderer, C. Cooney, J.W. Drunen, L.D. van |
| Title: | The price elasticity of demand for common stock (! Elasticity) |
| Journal: | Journal of Finance
1991 : JUN, VOL. 46:2, p. 621-651 |
| Index terms: | SHARE PRICES DEMAND |
| Language: | eng |
| Abstract: | The price elasticity of demand for the common stock of an individual corporation is studied. Despite the prevelance of assumptions that demand is perfectly elastic, there is little if any direct evidence in the literature to either support or reject that contention. Consistently with the notion of finite price elasticities, it is found that the announcement of primary stock offerings by regulated firms depresses their stock prices and little if any evidence that this decline is the result of adverse information about future cash flows. Attempts to relate offer announcement effects directly to possible determinants of price elasticities, hovewer, are inconclusive. |
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