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pro vyhledávání: '"Matthias M. M. Buehlmaier"'
Publikováno v:
Review of Finance. 25(4):997-1046
Using merger announcements and applying methods from computational linguistics we find strong evidence that stock prices underreact to information in financial media. A one standard deviation increase in the media-implied probability of merger comple
Publikováno v:
SSRN Electronic Journal.
Over the past 15 years, passive investing has seen 1.5 trillion dollars of fund inflows while active investing has seen 500 billion of outflows. These numbers are in line with the tenets of passive investing, which assert it is close to impossible to
Publikováno v:
The Review of Financial Studies. 31:2693-2728
We construct novel measures of financial constraints using textual analysis of firms’ annual reports and investigate their impact on stock returns. Our three measures capture access to equity markets, debt markets, and external financial markets in
Publikováno v:
SSRN Electronic Journal.
We construct a novel measure of financial constraints using textual analysis and investigate its impact on stock returns. Unlike other financial constraints measures, ours is consistent with firm characteristics of constrained firms. We find that con
Autor:
Matthias M. M. Buehlmaier
Publikováno v:
SSRN Electronic Journal.
The 2011 Annual Meeting of the Financial Management Association International (FMA), Denver, CO., 19-22 October 2011.
Autor:
Matthias M. M. Buehlmaier
Publikováno v:
SSRN Electronic Journal.
Most firms issue financial assets such as debt or equity (e.g. bonds or stock) to outside investors. While these financial assets differ greatly in their characteristics, their diversity has received little attention in the literature. Filling this i