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Persistent link: https://www.econbiz.de/10010373331
This paper proposes a new method using option prices to estimate the market value of the voting right associated with a stock. The method consists of synthesizing a non-voting share using put-call parity, and comparing its price to that of the underlying stock. Empirically, we find this measure...
Persistent link: https://www.econbiz.de/10013008721