Private debt, unused credit lines, and seasoned equity offerings
In: The quarterly review of economics and finance, Band 51, Heft 4, S. 376-388
ISSN: 1062-9769
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In: The quarterly review of economics and finance, Band 51, Heft 4, S. 376-388
ISSN: 1062-9769
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Working paper
In: Journal of economics and business, Band 62, Heft 6, S. 517-536
ISSN: 0148-6195
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In: FINANA-D-23-00158
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In: 23-484
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In: Journal of Financial Economics, Forthcoming
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In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Band 36, Heft 4, S. 493-518
ISSN: 1475-6803
AbstractWe study China's experience with price limits by comparing a period with price limits to a period without price limits. Although many prior studies document costs of price limits, we show benefits of price limits. We find that price limits can facilitate price discovery, moderate transitory volatility, and mitigate abnormal trading activity. A tighter price limit for poorly performing stocks can also moderate volatility. We do not find evidence of a magnet effect, which suggests that prices gravitate to limit prices. Finally, we find evidence that price limits can facilitate market recovery following crashes.
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In: The quarterly review of economics and finance, Band 79, S. 198-209
ISSN: 1062-9769
In: JBF-D-23-00201
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In: FINANA-D-24-00503
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