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Feedback Effects and the Limits to Arbitrage
Edmans, Alex - 2011
This paper identifies a limit to arbitrage that arises from the fact that a firm's fundamental value is endogenous to … the act of exploiting the arbitrage. Trading on private information reveals this information to managers and helps them …
Persistent link: https://www.econbiz.de/10013118467
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Feedback effects and the limits to arbitrage
Edmans, Alex; Goldstein, Itay; Jiang, Wei - 2011
Persistent link: https://www.econbiz.de/10009491947
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Feedback effects and the limits to arbitrage
Edmans, Alex; Goldstein, Itay; Jiang, Wei - 2011
Persistent link: https://www.econbiz.de/10009499865
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Feedback effects and the limits to arbitrage
Edmans, Alex; Goldstein, Itay; Jiang, Wei - 2011
Persistent link: https://www.econbiz.de/10009295339
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Feedback effects, asymmetric trading, and the limits to arbitrage
Edmans, Alex; Goldstein, Itay; Jiang, Wei - In: The American economic review 105 (2015) 12, pp. 3766-3797
Persistent link: https://www.econbiz.de/10011413066
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Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage
Edmans, Alex - 2018
to arbitrage, whereby investors may refrain from trading on negative information. Thus, bad news is incorporated more …
Persistent link: https://www.econbiz.de/10012940494
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Feedback Effects and the Limits to Arbitrage
Edmans, Alex - 2011
This paper identifies a limit to arbitrage that arises from the fact that a firm's fundamental value is endogenous to … the act of exploiting the arbitrage. Trading on private information reveals this information to managers and helps them …
Persistent link: https://www.econbiz.de/10012461075
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Differences of opinion, short-sales constraints, and market crashes
Hong, Harrison G.; Stein, Jeremy C. - In: The review of financial studies 16 (2003) 2, pp. 487-525
Persistent link: https://www.econbiz.de/10001764237
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Differences of opinion, rational arbitrage and market crashes
Hong, Harrison G.; Stein, Jeremy C. - 1999
Persistent link: https://www.econbiz.de/10001418856
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Differences of Opinion, Rational Arbitrage and Market Crashes
Hong, Harrison - 1999
We develop a theory of stock-market crashes based on differences of opinion among investors. Because of short-sales constraints, bearish investors do not initially participate in the market and their information is not revealed in prices. However, if other, previously-bullish investors have a...
Persistent link: https://www.econbiz.de/10012471408