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Title: The effect of tender offer in experimental asset market
Authors: Chen, Yufei
Jiang, Hongxu
Zheng, Rulan
Keywords: DRNTU::Social sciences
Issue Date: 2016
Abstract: Tender offer is one of the most commonly used measures for corporate takeover. Empirical research suggest a significant impact of tender offer announcement on asset market, namely stock pricing and trading liquidity. In this paper, we design and conduct an experiment under the framework suggested by Smith, Suchanek and Williams (1988) to investigate this impact. Our experiment results suggest that tender offer intensifies price bubbles, and that takeover competition significantly increases market liquidity.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:HSS Student Reports (FYP/IA/PA/PI)

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