Moral Hazard, Informed Trading, and Stock Prices
收藏NBER2013-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w19619
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资源简介：
We analyze a model of informed trading where an activist shareholder accumulates shares in an anonymous market and then expends costly effort to increase the firm value. We find that equilibrium prices are affected by the position accumulated by the activist, because the level of effort undertaken
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美国国家经济研究局创建时间：
2013-11-01
