Merger announcements, asymmetrical information, and trading volume: an empirical investigation
Article Abstract:
Stock trading volume is shown to increase significantly before an initial public announcement of an intended merger or prior to the first mention of a rumor of a possible merger in the Wall Street Journal. The Cumulative Average Volume Residual rose to a level equal to more than 25% of total shares outstanding prior to the announcement and an additional 75% of the total shares outstanding 30 days after. These results confirm the existence of an asymmetric information distribution before the first public merger announcement.
Publication Name: Journal of Business Finance and Accounting
Subject: Business
ISSN: 0306-686X
Year: 1992
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Determinants of underwriter participation in initial public offerings of common stock: An empirical study
Article Abstract:
A study of determinants of underwriter participation in common stock initial public offerings, is presented.
Publication Name: Journal of Business Finance and Accounting
Subject: Business
ISSN: 0306-686X
Year: 1999
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