The effect of tender offer in experimental asset market

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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Main Authors: Chen, Yufei, Jiang, Hongxu, Zheng, Rulan
Other Authors: Yohanes Eko Riyanto
Format: Final Year Project
Language:English
Published: 2016
Subjects:
DRNTU::Social sciences
Online Access:http://hdl.handle.net/10356/66376
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Institution: Nanyang Technological University
Language: English
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spelling 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

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