Author: Christian Funke

Publisher: Springer Science & Business Media

Published: 2008-09-15

Total Pages: 123

ISBN-13: 3834998141

Christian Funke aims at developing a better understanding of a central asset pricing issue: the stock price discovery process in capital markets. Using U.S. capital market data, he investigates the importance of mergers and acquisitions (M&A) for stock prices and examines economic links between customer and supplier firms. The empirical investigations document return predictability and show that capital markets are not perfectly efficient.