Asset Details
Do you wish to reserve the book?
Buy The Rumor, Sell The News! What About Takeover Rumors?
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
Buy The Rumor, Sell The News! What About Takeover Rumors?
Do you wish to request the book?
Buy The Rumor, Sell The News! What About Takeover Rumors?
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
Buy The Rumor, Sell The News! What About Takeover Rumors?
2016
Overview
This paper attempts to quantify the short-term impact of takeover rumors on target stock prices. The study was conducted on the French stock market between 1997 and 2011 and concerns 200 rumors that appeared in the media (news agencies, newspapers, and Web sites). Our results show that this particular kind of information has a significant impact on the prices of target companies around and after the date of rumor appearance. The best performance of target shares is observed 50 days after the dissemination of the rumors in the media, with an average return of 4%. This performance is mainly explained by three components: credibility, rumor characteristics, and the anticipated effects of the takeover bid.
