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Noise Trading and Takeovers

Citations

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Cited by:

  1. Mike Burkart & Denis Gromb & Fausto Panunzi, 2006. "Minority Blocks and Takeover Premia," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(1), pages 32-49, March.
  2. Faure-Grimaud, Antoine & Gromb, Denis, 2000. "Public Trading and Private Incentives," CEPR Discussion Papers 2505, C.E.P.R. Discussion Papers.
  3. Burkart, Mike & Panunzi, Fausto, 2006. "Agency conflicts, ownership concentration, and legal shareholder protection," Journal of Financial Intermediation, Elsevier, vol. 15(1), pages 1-31, January.
  4. Arturo Bris, 1998. "When Do Bidders Purchase a Toehold? Theory and Tests," Yale School of Management Working Papers ysm107, Yale School of Management, revised 01 Aug 2000.
  5. Ordonez-Calafi, Guillem & Bernhardt, Dan, 2019. "Blockholder Disclosure Thresholds and Hedge Fund Activism," The Warwick Economics Research Paper Series (TWERPS) 1203, University of Warwick, Department of Economics.
  6. David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
  7. Yajie Chen & Qinlin Zhong & Fuxiu Jiang, 2020. "The capital market spillover effect of product market advertising: Evidence from stock price synchronicity," Frontiers of Business Research in China, Springer, vol. 14(1), pages 1-21, December.
  8. Dimmock, Stephen G. & Gerken, William C. & Ivković, Zoran & Weisbenner, Scott J., 2018. "Capital gains lock-in and governance choices," Journal of Financial Economics, Elsevier, vol. 127(1), pages 113-135.
  9. Marc Goergen, 2005. "Corporate Governance Convergence: Evidence From Takeover Regulation Reforms in Europe," Oxford Review of Economic Policy, Oxford University Press, vol. 21(2), pages 243-268, Summer.
  10. Barbara G. Katz & Joel Owen, 2000. "The Emergence of Concentrated Ownership and the Rebalancing of Portfolios due to Shareholder Activism in a Financial Market Equilibrium," Working Papers 00-01, New York University, Leonard N. Stern School of Business, Department of Economics.
  11. Qiang Kang & Qiao Liu, 2010. "Information-Based Stock Trading, Executive Incentives, and the Principal-Agent Problem," Management Science, INFORMS, vol. 56(4), pages 682-698, April.
  12. Kerry Back & Pierre Collin‐Dufresne & Vyacheslav Fos & Tao Li & Alexander Ljungqvist, 2018. "Activism, Strategic Trading, and Liquidity," Econometrica, Econometric Society, vol. 86(4), pages 1431-1463, July.
  13. Gu, Lifeng & Wang, Yixin & Yao, Wentao & Zhang, Yilin, 2018. "Stock liquidity and corporate diversification: Evidence from China’s split share structure reform," Journal of Empirical Finance, Elsevier, vol. 49(C), pages 57-80.
  14. Nguyen, Truong-Giang, 2020. "Stock liquidity and dividend policy: Evidence from an imputation tax environment," International Review of Financial Analysis, Elsevier, vol. 72(C).
  15. Severin Borenstein & James Bushnell & Christopher R. Knittel & Catherine Wolfram, 2008. "Inefficiencies And Market Power In Financial Arbitrage: A Study Of California'S Electricity Markets," Journal of Industrial Economics, Wiley Blackwell, vol. 56(2), pages 347-378, June.
  16. Trojanowski, G., 2004. "Ownership structure as a mechanism of corporate governance," Other publications TiSEM 5dbc874d-d1d0-44a5-9717-8, Tilburg University, School of Economics and Management.
  17. Francesca Cornelli & David D. Li, "undated". "Risk Arbitrage in Takeovers," Rodney L. White Center for Financial Research Working Papers 17-98, Wharton School Rodney L. White Center for Financial Research.
  18. Gary Gorton & Matthias Kahl, 2002. "The Scarcity of Effective Monitors and Its Implications For Corporate Takeovers and Ownership Structures," Center for Financial Institutions Working Papers 02-30, Wharton School Center for Financial Institutions, University of Pennsylvania.
  19. Pierre Collin-Dufresne & Vyacheslav Fos, 2013. "Moral Hazard, Informed Trading, and Stock Prices," NBER Working Papers 19619, National Bureau of Economic Research, Inc.
  20. Admati, Anat R & Pfleiderer, Paul & Zechner, Josef, 1994. "Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1097-1130, December.
  21. Jiang, Fuxiu & Ma, Yunbiao & Shi, Beibei, 2017. "Stock liquidity and dividend payouts," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 295-314.
  22. Christopher Knittel & Catherine Wolfram & James Bushnell & Severin Borenstein, 2006. "Inefficiencies and Market Power in Financial Arbitrage: A Study of California?s Electricity Markets," Working Papers 630, University of California, Davis, Department of Economics.
  23. Shouming Chen & Kaidi Xu & Luu Thi Nguyen & Guangsheng Yu, 2018. "TMT’s Attention towards Financial Goals and Innovation Investment: Evidence from China," Sustainability, MDPI, Open Access Journal, vol. 10(11), pages 1-18, November.
  24. Vyacheslav Fos, 2017. "The Disciplinary Effects of Proxy Contests," Management Science, INFORMS, vol. 63(3), pages 655-671, March.
  25. Corum, Adrian Aycan, 2021. "Fighting Fire with Fire: Optimality of Value Destruction to Mitigate Short-Termism," OSF Preprints xhwmg, Center for Open Science.
  26. Vila, Jean-Luc, 1987. "Spéculation et intérêt collectif," L'Actualité Economique, Société Canadienne de Science Economique, vol. 63(2), pages 138-152, juin et s.
  27. John S. Earle & Csaba Kucsera & Álmos Telegdy, 2005. "Ownership Concentration and Corporate Performance on the Budapest Stock Exchange: do too many cooks spoil the goulash?," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(2), pages 254-264, March.
  28. Cumming, Douglas & Ji, Shan & Peter, Rejo & Tarsalewska, Monika, 2020. "Market manipulation and innovation," Journal of Banking & Finance, Elsevier, vol. 120(C).
  29. Back, Kerry E. & Li, Tao & Ljungqvist, Alexander P., 2013. "Liquidity and Governance," CEPR Discussion Papers 9739, C.E.P.R. Discussion Papers.
  30. Bill Francis & Iftekhar Hasan & Suresh Babu Mani & An Yan, 2016. "Externality of Stock Liquidity to the Cost of Borrowing," BAFFI CAREFIN Working Papers 1642, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
  31. Brav, Alon & Dasgupta, Amil & Mathews, Richmond, 2016. "Wolf Pack Activism," CEPR Discussion Papers 11507, C.E.P.R. Discussion Papers.
  32. Cheung, William Mingyan & Chung, Richard & Fung, Scott, 2015. "The effects of stock liquidity on firm value and corporate governance: Endogeneity and the REIT experiment," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 211-231.
  33. Alex Edmans & Vivian W. Fang & Emanuel Zur, 2013. "The Effect of Liquidity on Governance," Review of Financial Studies, Society for Financial Studies, vol. 26(6), pages 1443-1482.
  34. Armo Gomes, 2001. "Takeovers, Freezeouts, and Risk Arbitrage," Penn CARESS Working Papers c4679b705ea88aebda985c6da, Penn Economics Department.
  35. Wali Ullah, 2017. "Evolving corporate governance and firms performance: evidence from Japanese firms," Economics of Governance, Springer, vol. 18(1), pages 1-33, February.
  36. Dittmann, Ingolf, 2004. "Block Trading, Ownership Structure, and the Value of Corporate Votes," Papers 2004,13, Humboldt University of Berlin, Center for Applied Statistics and Economics (CASE).
  37. Dong, Liping & Uchida, Konari & Hou, Xiaohong, 2020. "Are future capital gain opportunities important in the market for corporate control? Evidence from China," Journal of Corporate Finance, Elsevier, vol. 63(C).
  38. Nickolay Gantchev & Chotibhak Jotikasthira, 2018. "Institutional Trading and Hedge Fund Activism," Management Science, INFORMS, vol. 64(6), pages 2930-2950, June.
  39. Pierre Collin-Dufresne & Vyacheslav Fos, 2012. "Insider Trading, Stochastic Liquidity and Equilibrium Prices," NBER Working Papers 18451, National Bureau of Economic Research, Inc.
  40. Craig W. Holden & Stacey Jacobsen & Avanidhar Subrahmanyam, 2014. "The Empirical Analysis of Liquidity," Foundations and Trends(R) in Finance, now publishers, vol. 8(4), pages 263-365, December.
  41. Martynova, M., 2006. "The market for corporate control and corporate governance regulation in Europe," Other publications TiSEM 8651e281-4914-41f2-ac14-1, Tilburg University, School of Economics and Management.
  42. Gorton, Gary & Kahl, Matthias, 2001. "The Scarcity of Effective Monitors and Its Implications For Corporate Takeovers and Ownership Structures," University of California at Los Angeles, Anderson Graduate School of Management qt2tj5w4mt, Anderson Graduate School of Management, UCLA.
  43. Pierre Collin-Dufresne & Vyacheslav Fos, 2012. "Do prices reveal the presence of informed trading?," NBER Working Papers 18452, National Bureau of Economic Research, Inc.
  44. Earl A. Thompson & Charles R. Hickson, 2006. "Predicting bubbles," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 8(3/4), pages 217-246.
  45. Robert Marquez & Bilge Yılmaz, 2012. "Takeover Bidding and Shareholder Information," Review of Corporate Finance Studies, Oxford University Press, vol. 1(1), pages 1-27.
  46. Dhananjay Bapat, 2018. "Profitability drivers for Indian banks: a dynamic panel data analysis," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 8(4), pages 437-451, December.
  47. Li, Dan & Xia, Ying, 2021. "Gauging the effects of stock liquidity on earnings management: Evidence from the SEC tick size pilot test," Journal of Corporate Finance, Elsevier, vol. 67(C).
  48. Joskow, Paul L & Tirole, Jean, 1999. "Transmission Rights and Market Power on Electric Power Networks I: Financial Rights," CEPR Discussion Papers 2093, C.E.P.R. Discussion Papers.
  49. Fos, Vyacheslav & Kahn, Charles, 2019. "The Threat of Intervention," CEPR Discussion Papers 13654, C.E.P.R. Discussion Papers.
  50. Deb, Pragyan & Koo, Bonsoo & Liu, Zijun, 2014. "Competition, premature trading and excess volatility," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 178-193.
  51. Edmans, Alex & Holderness, Clifford, 2016. "Blockholders: A Survey of Theory and Evidence," CEPR Discussion Papers 11442, C.E.P.R. Discussion Papers.
  52. Corum, Adrian Aycan & Levit, Doron, 2019. "Corporate control activism," Journal of Financial Economics, Elsevier, vol. 133(1), pages 1-17.
  53. Ravid, S. Abraham & Spiegel, Matthew, 1999. "Toehold strategies, takeover laws and rival bidders," Journal of Banking & Finance, Elsevier, vol. 23(8), pages 1219-1242, August.
  54. Gary Gorton & Matthias Kahl, 1999. "Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers," NBER Working Papers 7123, National Bureau of Economic Research, Inc.
  55. Asquith, Daniel & Kieschnick, Robert, 1999. "An Examination of Initial Shareholdings in Tender Offer Bids," Review of Quantitative Finance and Accounting, Springer, vol. 12(2), pages 171-188, March.
  56. Mueller, Holger M & Panunzi, Fausto, 2003. "Tender Offers and Leverage," CEPR Discussion Papers 3964, C.E.P.R. Discussion Papers.
  57. Prommin, Panu & Jumreornvong, Seksak & Jiraporn, Pornsit & Tong, Shenghui, 2016. "Liquidity, ownership concentration, corporate governance, and firm value: Evidence from Thailand," Global Finance Journal, Elsevier, vol. 31(C), pages 73-87.
  58. Levit, Doron, 2017. "Advising shareholders in takeovers," Journal of Financial Economics, Elsevier, vol. 126(3), pages 614-634.
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