Takeover Bids and Capital Market Efficiency
In: CNB Financial Stability Report 2006
This article deals with the structure and evolution of tender offers, takeover prices and the effects of tender offer announcements in the Czech Republic in 2001-2005. Semi-strong form efficiency is examined by means of the traditional event study methodology. Based on the results it is impossible to prove either semi-strong form efficiency of the Czech stock market or trading based on private information.
|This chapter was published in: Jan Hajek & Miroslava Jindrova CNB Financial Stability Report 2006, , chapter Thematic Article 4, pages 89-98, 2007.|
|This item is provided by Czech National Bank, Research Department in its series Occasional Publications - Chapters in Edited Volumes with number fsr06/4.|
|Contact details of provider:|| Postal: Na Prikope 28, 115 03 Prague 1|
Phone: 00420 2 2442 1111
Fax: 00420 2 2421 8522
Web page: http://www.cnb.cz/en/research/research_intro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:cnb:ocpubc:fsr06/4. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jan Babecky)
If references are entirely missing, you can add them using this form.