The Price Of Corporate Liquidity: Acquisition Disc

Officer M., The price of collective liquidity: acquisition discounts for over-the-counter tar give-up the ghosts, Journal of pecuniary economics 83(2007), pp.571-598 ??????? ??????? ???????? ? ???????? ??????????? ???????? ?????? ?????????? ????????? ??????????? ? ???????????????? ??? ??????????, ?????? 2/3 ???? ?????? ?? ?????? SDC (Securities selective information corporation) ??????????? ? ???????????? ??????????. ??? ??????? ? ???, ??? ????? ?????? ??????? ? ?????????? ??????????? ???????? ????? ?????, ??? ? ?????? ? ?????????? ??????????. ????? ????, ?????? ? ???????????? ??????????, ? ????????? ? ????????? ????????????? ?????? ????????, ????????????? ??????? ?????? ??? ???????????? ??????? ? ??????? ???????????, ??? ??? ?????????????? ????????? (????????? ????????) ? ?????????????? ????????? ??????????? ????? ???? ?????????? ? ??????? ????????? ?? ?????? ??????. ?????? ?????? ????????? ????????? ??????? ??????????? ????????, ? ????????? ????????? ? ??????????? ?? ?????????? ???????? ???????? ? ????????????? ?????? ????? ? ????? ?? ???????, ??????? ? ???????. ??????? ?????? ? ???????? ? ??????????? ??????????? ???????? ? ???????? ??????????? ???? ????? ?? SDC (?????????? ?? ???????? ? ???????????) ?? ?????? ? 1979 ?? 2003???.

??????? ???????? ??? ????????, ??? ? ?? ???????? ?????? ? ????????????? ?????? 50% ?????? ?????, ?????????? ?? 50$ ???., ?? ???????? ?????? ????????? ? ???????. ?????????????? ??????? ???????? ?? 12716 ??????, ?????? ????? ?????????? ????????? ?????? ?? ?????? ???????, ??????? ??????????? ?? 2829 ?????? ??????? ???????? ? 5328 ?????? ???????? ???????????. ??????????? ??? ??? ??? ??????????? ???????? ??????? ????? ????????? ??? ?????? ?????? ?? ???????, ????? ?????????? ????? Kaplan and Ruback (1995), ??? ?????????? «?????????????? ????? ????????? ?????????» (comparable industry dealings method), ??????? ??????????? ? ???, ??? ??? ?????? ??????????? ???????? ???? ???????????? ???????? ??????? ?????? ????????? ???????? ?? ??????? ? ?????????....If you want to get a full essay, order it on our website: Ordercustompaper.com

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