Feedback Effects and the Limits to Arbitrage
收藏NBER2011-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w17582
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资源简介：
This paper identifies a limit to arbitrage that arises from the fact that a firm's fundamental value is endogenous to the act of exploiting the arbitrage. Trading on private information reveals this information to managers and helps them improve their real decisions, in turn enhancing fundamental
提供机构：
美国国家经济研究局
创建时间：
2011-11-01
