Study on the High-tech Sale through Auctions
This paper deals with the security voting structure in an auction mechanism used to sell an item of high-tech. The design of security voting structure allows the seller to choose between two objectives that are not mutually consistent. The security voting structure design trades off between sell all the shares and retain some shares to benefit from the future dividends generated by the winner. However, if the seller wants to maximize his revenue, he should retain some shares to benefit from the future dividends generated by the acquirer. On the other hand, if he wants to sell his high-tech to the most efficient candidate, he should sell all the shares.
Auctions High-tech Security voting structure
WANG Ping-ping
School of Information Management, Jiangxi University of Finance and Economics, P.R.China, 330013
国际会议
上海
英文
2007-09-21（万方平台首次上网日期，不代表论文的发表时间）