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Nach dem Vorbild börsennotierter britischer Vereine wird es auch deutschen Profifußballvereinen in absehbarer Zukunft möglich sein, sich in Aktiengesellschaften umzuwandeln. Der anschließende Börsengang soll dann den nach den jüngsten Entwicklungen im Profifußballbereich gestiegenen...
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incomplete information about the unknown stochastic volatility. The option price is determined by a uniform-price auction. Thus … unknown stochastic volatility under an explicit market structure. This paper incorporates market microstructure considerations … into an extended Black-Scholes model with incomplete information on the underlying volatility. It relies on the growing …
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We investigate whether firms manage stock prices in anticipation of share issuance. Warrant exercise results in share … engage in stock price management in anticipation of share issuance …
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This paper empirically investigates the links between the motives for going public and changes in the market value and efficiency of new stock companies. Using a sample of 200 firms from Warsaw Stock Exchange between 2005 and 2012 I find that the principal purpose of initial public offering is...
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In this paper we will be estimating risk-neutral densities (RND) for the largest euro area stock market (the index of which is the German DAX), reporting their statistical properties, and evaluating their forecasting performance. We have applied an innovative test procedure to a new, rich, and...
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