| 书目名称 | Information Risk and Long-Run Performance of Initial Public Offerings | | 编辑 | Frank Ecker | | 视频video | | | 图书封面 |  | | 描述 | Exactly forty years after Eugene Fama’s (1965) article “The Behavior of Stock Market Prices” (Journal of Business), the play ”E?cient Capital Markets” is still going strong. With his thesis, Frank Ecker is adding a new act to the play: His work is a combination of several new developments on the analytical and empirical capital market research front. Capital market e?ciency is based on two aspects. First, the ability of investors to identify a situation in which asset prices are out of the capital market equilibrium. Second, on the possibility of the market to make arbitrage pro?ts by driving the prices back to the equilibrium value. Both aspects are conditional on the set of ”relevant” information. As a result, the basic question is: What is relevant information and how is it processed by investors? This work is building on the concept of information quality, information uncertainty or information risk. Fama’s e?cient market hypothesis is just a special case based on the assumption that new information is absolutely correct and completely credible to all investors. In contrast, this work makes use of the more general assumption that new information can be characterized by very di? | | 出版日期 | Book 2009 | | 关键词 | Abnormal returns measurement; Empirical research; IPOs; Information risk; Performance; Public Relations; i | | 版次 | 1 | | doi | https://doi.org/10.1007/978-3-8349-8117-2 | | isbn_softcover | 978-3-8349-1259-6 | | isbn_ebook | 978-3-8349-8117-2 | | copyright | Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2009 |
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发表于 2025-3-21 18:14:55
