search query: @author Porter, D. / total: 5
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| Author: | Caginalp, G. Porter, D. Smith, V. |
| Title: | Financial bubbles: excess cash, momentum, and incomplete information |
| Journal: | Journal of Psychology and Financial Markets
2001 : VOL. 2:2, p. 80-99 |
| Index terms: | BIDDING BUBBLES CASH FLOW DIVIDENDS INFORMATION LIQUIDITY |
| Language: | eng |
| Abstract: | The first part of the article is comprised of twenty-five experiments with varying levels of total cash endowments per share (liquidity level), payment or deferral of dividends and an open or closed bid-ask book. The authors find that the liquidity level has a very strong influence on the mean and maximum prices during an experiment (P < 1/10 000). These results suggest that within the framework of the classical bubble experiments (dividends distributed after each period and closed book), each dollar per share of additional cash results in a maximum price that is $1 per share higher. |
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