Selected Essays in Empirical Asset Pricing : Information Incorporation at the Single-Firm, Industry, and Cross-Industry Level /
By: Funke, Christian [author.].
Contributor(s): SpringerLink (Online service).
Material type:
BookPublisher: Wiesbaden : Gabler, 2008.Description: XVII, 109 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783834998149.Subject(s): Finance | Public finance | Economics | Public Economics | Finance, generalDDC classification: 336 Online resources: Click here to access online | Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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E books
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PK Kelkar Library, IIT Kanpur | Available | EBK7294 |
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 -- Conclusion.
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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