Selected Essays in Empirical Asset Pricing Information Incorporation at the Single-Firm, Industry and Cross-Industry Level /
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 ma...
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Wiesbaden :
Gabler Verlag : Imprint: Gabler Verlag,
2008.
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| Edition: | 1st ed. 2008. |
| Series: | ebs-Forschung, Schriftenreihe der EUROPEAN BUSINESS SCHOOL Schloß Reichartshausen ;
69 |
| Subjects: | |
| Online Access: | https://doi.org/10.1007/978-3-8349-9814-9 |
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| Summary: | 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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| Physical Description: | XVII, 109 p. online resource. |
| ISBN: | 9783834998149 |