The effect of tender offer in experimental asset market
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 sugges...
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sg-ntu-dr.10356-663762019-12-10T11:52:59Z The effect of tender offer in experimental asset market Chen, Yufei Jiang, Hongxu Zheng, Rulan Yohanes Eko Riyanto School of Humanities and Social Sciences DRNTU::Social sciences 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. Bachelor of Arts 2016-03-31T01:42:38Z 2016-03-31T01:42:38Z 2016 Final Year Project (FYP) http://hdl.handle.net/10356/66376 en Nanyang Technological University 50 p. application/pdf |
| institution |
Nanyang Technological University |
| building |
NTU Library |
| country |
Singapore |
| collection |
DR-NTU |
| language |
English |
| topic |
DRNTU::Social sciences |
| spellingShingle |
DRNTU::Social sciences Chen, Yufei Jiang, Hongxu Zheng, Rulan The effect of tender offer in experimental asset market |
| description |
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. |
| author2 |
Yohanes Eko Riyanto |
| author_facet |
Yohanes Eko Riyanto Chen, Yufei Jiang, Hongxu Zheng, Rulan |
| format |
Final Year Project |
| author |
Chen, Yufei Jiang, Hongxu Zheng, Rulan |
| author_sort |
Chen, Yufei |
| title |
The effect of tender offer in experimental asset market |
| title_short |
The effect of tender offer in experimental asset market |
| title_full |
The effect of tender offer in experimental asset market |
| title_fullStr |
The effect of tender offer in experimental asset market |
| title_full_unstemmed |
The effect of tender offer in experimental asset market |
| title_sort |
effect of tender offer in experimental asset market |
| publishDate |
2016 |
| url |
http://hdl.handle.net/10356/66376 |
| _version_ |
1681048177390649344 |