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part consists of three essays that examine the economic rationale of apartheid in South Africa, how a more or less constant … wage level for blacks was created, who gains and who loses from the apartheid system. The third part deals with economic … particular emphasis on the case of South Africa. The fourth and final part deals with why apartheid is breaking down, how the …
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In this paper, I study trading activities prior to M&A announcements pertaining to the rivals of the merging firms. I find that not only acquirers and targets experience increases in abnormal trading activities in stock and option markets, but also their rivals. The rise in option trading is...
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