Economic Review

1990

 
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Mar/Apr, 1990

Takeovers and Stock Price Volatility

Jeffrey M. Lacker and John A. Weinberg

An examination of the relation between takeovers and stock price volatility. The analysis focuses on the Martingale (efficient markets) Model of stock price behavior and an alternative view in which stock prices reflect values to participants in a market for corporate control. This paper includes a mathematical treatment of the subject.

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