Selected Essays in Empirical Asset Pricing

Information Incorporation at the Single-Firm, Industry ans Cross-Industry Level
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ISBN-13:
9783834911421
Einband:
Book
Erscheinungsdatum:
01.06.2014
Seiten:
109
Autor:
Christian Funke
Gewicht:
223 g
Format:
226x154x10 mm
Serie:
69, EBS-Forschung
Sprache:
Englisch
Beschreibung:
Financial researchers extensively discuss the efficiency of capital markets and the existence of possible misreactions in the information incorporation process.



Christian Funke aims at developing a better understanding of a central asset pricing issue: the stock price discovery process in capital markets. He provides new evidence on the information incorporation process at the single-firm, industry, and cross-industry level. In three essays that display original empirical research using U.S. capital market data, he investigates the importance of mergers and acquisitions (M&A) for stock prices and examines economic links between customers and supplier firms. Return predictability at the single-firm, industry, and cross-industry level are documented which support the view of behavioral finance researchers that capital markets are not perfectly efficient.
Aus dem Inhalt:Information Signaling and Competitive Effects of M & A: Long-Term Performance of Rival Companies, Predictability of Industry Returns After M & A Announcements, Predictability of Supplier Returns After Large Customer Price Changes
Financial researchers extensively discuss the efficiency of capital markets and the existence of possible misreactions in the information incorporation process.Christian Funke aims at developing a better understanding of a central asset pricing issue: the stock price discovery process in capital markets. He provides new evidence on the information incorporation process at the single-firm, industry, and cross-industry level. In three essays that display original empirical research using U.S. capital market data, he investigates the importance of mergers and acquisitions (M&A) for stock prices and examines economic links between customers and supplier firms. Return predictability at the single-firm, industry, and cross-industry level are documented which support the view of behavioral finance researchers that capital markets are not perfectly efficient.

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