| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6598 |
| DP6598 An Economic Evaluation of Empirical Exchange Rate Models | |
| LUCIO SARNO; Pasquale Della Corte; Ilias Tsiakas | |
| 发表日期 | 2007-12-23 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Recent takeover activity has been characterized by broader participation in acquiror financing on both debt and equity sides. We focus on private equity buyouts, and investigate whether the number of financing participants is related to the likelihood of insider trading prior to the bid announcement. Results suggest that more insiders leads to more insider trade. We study stock, option, bond, and CDS markets. Suspicious stock and options activity is associated with more equity participants, while suspicious activity in the credit markets is associated with more debt participants. The results highlight an important channel in the flow of information and may be consistent with models of limited competition among informed insiders. They are unlikely to be consistent with models of optimal regulation. |
| 主题 | Financial Economics |
| 关键词 | Asymmetric information Lbo Private equity Regulation |
| URL | https://cepr.org/publications/dp6598 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535461 |
| 推荐引用方式 GB/T 7714 | LUCIO SARNO,Pasquale Della Corte,Ilias Tsiakas. DP6598 An Economic Evaluation of Empirical Exchange Rate Models. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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