New Investors and Bubbles: An Analysis of the Baosteel Call Warrant Bubble

Autor:	Deng Pan, Donghui Shi, Binglin Gong
Rok vydání:	2017
Předmět:	Warrant 050208 finance Financial economics Strategy and Management Bubble 0502 economics and business 05 social sciences Economics Monetary economics 050207 economics Management Science and Operations Research Suspension (vehicle)
Zdroj:	Management Science. 63:2493-2508
ISSN:	1526-5501 0025-1909
DOI:	10.1287/mnsc.2016.2427
Popis:	This paper provides an analysis of the impact of new investors on the bubble surrounding the Baosteel call warrant, the first derivative traded in China after a nine-year suspension. We empirically show that new investors initiated the bubble at the opening call auction and were the key driving force to sustain the bubble until the maturity of the warrant. This paper was accepted by Wei Jiang, finance.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::3e728e2e2a2236e69b9151f90bc28411 https://doi.org/10.1287/mnsc.2016.2427 Zobrazit plný text záznamu Plný text ve formátu PDF