Asset Float and Speculative Bubbles
收藏NBER2005-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11367
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资源简介：
We model the relationship between asset float (tradeable shares) and speculative bubbles. Investors trade a stock with limited float because of insider lock-ups. They have heterogeneous beliefs due to overconfidence and face short-sales constraints. A bubble arises as price overweighs optimists'
提供机构：
美国国家经济研究局
创建时间：
2005-05-01
