haku: @author Kearney, C. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Hutson, E. Kearney, C. |
| Otsikko: | Volatility in stocks subject to takeover bids: Australian evidence using daily data |
| Lehti: | Journal of Empirical Finance
2001 : JUL, VOL. 8:3, p. 273-296 |
| Asiasana: | Volatility Mergers Stock markets |
| Vapaa asiasana: | Takeover bids |
| Kieli: | eng |
| Tiivistelmä: | Using daily price and volume data on 112 of the largest takeover targets in Australia during the period 1985-1993, the authors find that conditional price volatility declines after the takeover announcement. They argue that the phenomenon is due to convergence of trader opinion regarding the value of the target stock, and reflects a change in the price formation process that has not hitherto been recognised. |
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