会议专题

Is Merfer Arbitrage Profitable? ---- Evidence From China Stock Market

Merger arbitrage can get remarkable return according to research results of tender offers or mergers in United States, Canada, and Australia. But report has not been found about if merger arbitrage is a profitable investment strategy in China, whose capital market is still in the undeveloped stage and is dominated by negotiated acquisitions. This paper explores the performance of merger arbitrage involving 807 negotiated acquisitions during 20032005 in China stock market. Research result reveals that merger arbitrage with 5 days holding periods is a profitable investment strategy in China stock market.

acquisitionbyagreement mergerarbitrage investmentstrategy

Jinxin Zhang Yuting Ji

School of Economics and Management,Beijing Jiaotong UniversityBeijing 100044, China AMP Consulting Group Beijing 100037, China

国际会议

2011 International Conference on Business Management and Electronic Information(2011商业管理与电子信息国际学术会议 BMEI2011)

广州

英文

1-4

2011-05-13(万方平台首次上网日期,不代表论文的发表时间)