The information in asset fire sales

• Main Authors: HUANG, Sheng, RINGGENBERG, Matthew C., ZHANG, Zhe
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2019
• Subjects: adverse selection; asymmetric information; fire sales; information economics; institutional investors; slow moving capital; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/6212; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7211/viewcontent/Asset_Fire_Sale_2019_wp.pdf
• Institution: Singapore Management University

Duplicate record, see https://ink.library.smu.edu.sg/lkcsb_research/5894/. Asset prices remain depressed for several years following mutual fund fire sales. We show that price pressure from fire sales is partly due to asymmetric information which leads to an adverse selection problem for arbitrageur...