Entrop, Oliver; Fischer, Georg - In: Journal of Futures Markets 40 (2020) 7, pp. 1049-1071
Evaluating more than 317,000 discount certificates in the German secondary market, we find that premiums and spreads are endogenous and negatively related but depend on different key determinants. The fundamental determinants of the premiums are mainly profit-related, that is, dividends of the...