Similar Search Results

An Application of Global Games to Signalling Models

Wichardt, Philipp C. - 2006

In a first attempt to apply the global games methodology to signalling games, Ewerhart and Wichardt (2004) analyse a beer-quiche type signalling game with additional imperfect information about the preferences of the receiver. Their approach allows them to dismiss the unreasonable pooling on...

Persistent link: https://www.econbiz.de/10014067454

Internal coalition and stock price crash risk

Xu, Lin; Rao, Yulei; Cheng, Yingmei; Wang, Jianxin - In: The journal of corporate finance : contracting, … 64 (2020), pp. 1-22

Persistent link: https://www.econbiz.de/10012295788

The competitive stock market as cartel maker : some examples

Rubinstein, Ariel; Yaari, Menahem E. - 1983

Persistent link: https://www.econbiz.de/10002720167

Equity Prices and Cartel Activity

Richards, Dan - 2017

We use a new data set to examine the equity price impact of announced cartel investigations. Unlike prior research, we … estimate normal returns using the Fama-French (1993) three-factor model. We find that cartel investigation announcements have a … loss is notably less than the estimated present value of profits lost due to cartel termination, implying that cartel …

Persistent link: https://www.econbiz.de/10012970852

Government Investment and the Stock Market

Belo, Frederico - 2012

and risk premiums. To explain the empirical findings, we extend the neoclassical q-theory model of investment and specify …

Persistent link: https://www.econbiz.de/10013116636

Excess returns and the distinguished player paradox

Blonski, Matthias (contributor); … - 2008

distinguished player if he also can trade shares of the firm on a market. Arbitrage-free asset pricing theory suggests that the …

Persistent link: https://www.econbiz.de/10003776197

Optimal Trading in a Limit Order Book Using Linear Strategies

Pellizzari, Paolo - 2011

We numerically determine the equilibrium trading strategies in a Continuous Double Auction (CDA). We consider heterogeneous and liquidity motivated agents, with private values and costs that trade sequentially in random order under time constraints and are not aware of the type of the other...

Persistent link: https://www.econbiz.de/10013119065

Stock Price Movements with Asymmetric Information

Wang, Kun Tracy - 2013

We examine the strategies of different types of investors (the insider, the information follower, and the price follower) who have asymmetric information about future news events and how these strategies affect stock prices. We show that stock price jumps occur when the insider receives accurate...

Persistent link: https://www.econbiz.de/10013082088

Do Dividends Signal More Earnings? A Theoretical Analysis

Araujo, Aloisio - 2013

Signaling models contributed to the corporate finance literature by formalizing "the informational content of dividends" hypothesis. However, these models are under criticism as the empirical literature found weak evidences supporting a central prediction: the positive relationship between...

Persistent link: https://www.econbiz.de/10013075641

Insider Trading with Correlation between Liquidity Trading and a Public Signal

Nishide, Katsumasa - 2009

We analyse a Kyle-type continuous-time market model in which liquidity trading is correlated with a noisy public signal that is released continuously. We show that, in contrast to the previous literature, Kyle's lambda, the price sensitivity to the order flow, can even be nonmonotonic, depending...

Persistent link: https://www.econbiz.de/10013155987

1
2
3
4
5
6
7
8
9
10
Next
Last