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leasehold rights be sold at public auction. There are two main types of auction: regular English auction and an unusual type … which we call a "two stage auction". The latter type of auction seems more subject to corruption, and to side deals between … positive selection as city officials divert hotter properties to a more corruptible auction form. The paper finds that, overall …
Persistent link: https://www.econbiz.de/10012463582
I show that frequent batch auctions for stocks have the potential to reduce the severity of stock price crashes when they occur. For a given sequence of orders from a continuous electronic limit order book market, matching orders using one second apart batch auctions results in nearly the same...
Persistent link: https://www.econbiz.de/10012480285
We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP … slated for definite privatization by the BJP dropped by 3.5 percent relative to private firms. Surprisingly, government …-controlled companies that were only under study for possible privatization fell by 7.5 percent relative to private firms. We interpret this …
Persistent link: https://www.econbiz.de/10012465222
We study the wealth accumulation of Indian parliamentarians using public disclosures required of all candidates since 2003. Annual asset growth of winners is on average 3 to 6 percentage points higher than runners-up. By performing a within-constituency comparison where both runner-up and winner...
Persistent link: https://www.econbiz.de/10012460564
passed without a bid. The strategic differences in the auction rules are reflected in the auction data by significantly more … about ending the auction playing an important role …
Persistent link: https://www.econbiz.de/10012471021
timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and …
Persistent link: https://www.econbiz.de/10012471603
The empirical analysis of auction data has become a thriving field of research over the past thirty years. Relying on …
Persistent link: https://www.econbiz.de/10012696420
"per install" basis--plays a major role in the mix and characteristics of auction winners, and, consequently, in their … number of such users. The distortion becomes worse as the auction gets more competitive and the number of bidders increases …
Persistent link: https://www.econbiz.de/10012482310
estimate, as published in the auction catalog …
Persistent link: https://www.econbiz.de/10012461915
In this paper we present a comprehensive comparison of IPO placement methods in over 50 countries. We find that out of the three primary methods, fixed price public offers, auctions, and book building, auctions are least popular with issuers. Since auctions allow for price discovery while...
Persistent link: https://www.econbiz.de/10012462441