The nature of informed option trading : evidence from the takeover market / Marco Klapper.

Format:

Book

Author/Creator:

Klapper, Marco, author.

Language:

English

Subjects (All):

Investment analysis--Mathematical models.

Investment analysis.

Options (Finance)--Germany.

Options (Finance).

Physical Description:

1 online resource (71 p.)

Edition:

1st ed.

Place of Publication:

Hamburg, Germany : Anchor Academic Publishing, 2014.

Language Note:

English

Summary:

This study examines the kind of information 'informed' traders have prior to a takeover announcement using options of target firms and elaborates on the cross-sectional relationship between options and stocks around takeover announcements. Financial markets are driven by information and by individuals that generate, process, and disclose this information to the market. Naturally, there have to be individuals who possess more information about a firm or a future event than other market participants. Mergers and acquisitions are particularly interesting events in this regard because they can hav

Contents:

The nature of informed option trading; OUTLINE; 1. Introduction; 2. LITERATURE REVIEW; 2.1 THE VALUE OF MERGERS AND ACQUISITIONS; 2.2 CROSS-SECTION OF OPTIONS AND STOCKS: EVIDENCE FROM M&A TRANSACTIONS; 2.3 CONCEPTUAL FRAMEWORK AND HYPOTHESIS DEVELOPMENT; 3. DATA AND METHODOLOGY; 3.1 DATA; 3.2 METHODOLOGY AND SUMMARY STATISTICS; 4. EMPIRICAL RESULTS; 4.1 OPTION LIQUIDITY; 4.2 PREDICTIVE POWER OF OPTIONS FOR CARS; 5. CONCLUSION; References; APPENDIX

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on online resource; title from PDF title page (ebrary, viewed April 19, 2014).

ISBN:

3-95489-672-9

OCLC:

871779666