Showing 1 - 10 of 23
had a measurable effect on the stock market valuation of the forty-two bank holding companies subject to the SEC order. I …
Persistent link: https://www.econbiz.de/10001783071
Using data from bank holding company regulatory reports, we examine the relationshipbetween stock repurchases and … financial performance for a large sample of bank holding companies over the years 1987 to 1998. The primary result is that … be driven primarily by bank holding companies with publicly traded stock, especially those companies whose stock is …
Persistent link: https://www.econbiz.de/10001589572
In this paper, I provide evidence that currency stop-loss orders contribute to rapid, self-reinforcing price movements, or "price cascades". Stop-loss orders, which instruct a dealer to buy (sell) a certain amount of currency at the market rate once the rate has risen (fallen) to a prespecified...
Persistent link: https://www.econbiz.de/10001682513
Persistent link: https://www.econbiz.de/10001630849
Does the presence of arbitrageurs decrease equilibrium asset price volatility? I study an economy with arbitrageurs, informed investors, and noise traders. Arbitrageurs face a trade-off between arbitrage and inference: they would like to buy assets in response to temporary price declines (the...
Persistent link: https://www.econbiz.de/10002101431
Building on recent developments in behavioral asset pricing, we develop a model in which an increase in the dispersion of investor beliefs under short-selling constraints predicts a "bubble," or a rise in a stock's price above its fundamental value. Our model predicts that managers respond to...
Persistent link: https://www.econbiz.de/10001936312
Persistent link: https://www.econbiz.de/10001752006
Persistent link: https://www.econbiz.de/10003411653