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volatility and manipulation and its effectiveness in achieving declared objectives. Our empirical analysis indicates that while …
Persistent link: https://www.econbiz.de/10010587938
If short sellers can destroy firm value by manipulating prices down, an informed blockholder has a powerful natural incentive to protect the value of his stake by trading against them. However, he also has a potentially conflicting incentive to use his information to generate trading profits. We...
Persistent link: https://www.econbiz.de/10010593825
We provide evidence that firms attempting IPOs condition offer terms and the decision whether to carry through with an offering on the experience of their primary market contemporaries. Moreover, while initial returns and IPO volume are positively correlated in the aggregate, the correlation is...
Persistent link: https://www.econbiz.de/10010661450
volatility and manipulation and its effectiveness in achieving declared objectives. Our empirical analysis indicates that while …
Persistent link: https://www.econbiz.de/10010905763
Persistent link: https://www.econbiz.de/10004706392
part of this price volatility to speculation. This phenomenon is investigated by estimating a general regime … collapsing bubbles story about Irish agricultural land prices. …
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The efficient markets hypothesis implies that, in the presence of rational investors, bubbles cannot develop. We …
Persistent link: https://www.econbiz.de/10005136583
We propose a simple classroom experiment on speculative bubbles: the Bubble Game. This game is useful to discuss about … market efficiency and trading strategies in a financial economics course, and about behavioral aspects in a game theory … cap on asset prices, speculative bubbles can arise at the Nash equilibrium because no trader is ever sure to be last in …
Persistent link: https://www.econbiz.de/10010944638