KALAY, AVNER; KARAKAŞ, OǦUZHAN; PANT, SHAGUN - In: Journal of Finance 69 (2014) 3, pp. 1235-1271
type="main" <title type="main">ABSTRACT</title> <p>This paper proposes a new method using option prices to estimate the market value of the shareholder voting rights associated with a stock. The method consists of synthesizing a nonvoting share using put-call parity, and comparing its price to that of the underlying stock....</p>