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- catalog abstract "This paper examines the trading behavior of professional investors around 2,130 mergers announced between 1994 and 2000. We find considerable support for the existence of price pressure around mergers caused by uniformed shifts in excess demand, but that these effects are fairly short-lived, consistent with the notion that short0run demand curves for stocks are not perfectly elastic. We estimate that roughly one half of the negative announcement period stock price reaction for acquirers in stock-financed mergers reflects downward price pressure caused by merger arbitrage short selling.".
- catalog contributor b12944724.
- catalog contributor b12944725.
- catalog contributor b12944726.
- catalog contributor b12944727.
- catalog created "c2002.".
- catalog date "2002".
- catalog date "c2002.".
- catalog dateCopyrighted "c2002.".
- catalog description "Includes bibliographical references.".
- catalog description "This paper examines the trading behavior of professional investors around 2,130 mergers announced between 1994 and 2000. We find considerable support for the existence of price pressure around mergers caused by uniformed shifts in excess demand, but that these effects are fairly short-lived, consistent with the notion that short0run demand curves for stocks are not perfectly elastic. We estimate that roughly one half of the negative announcement period stock price reaction for acquirers in stock-financed mergers reflects downward price pressure caused by merger arbitrage short selling.".
- catalog extent "40 p. :".
- catalog isPartOf "Working paper (Harvard Business School. Division of Research) ; 03-029.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 03-029".
- catalog issued "2002".
- catalog issued "c2002.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Price pressure around mergers / Mark Mitchell, Todd Pulvino, Erik Stafford.".
- catalog type "text".