Crushed by a rational stampede: Strategic share dumping and shareholder insurrections
In this paper, we develop a dynamic model of institutional share dumping surrounding control events. Uninformed institutional investors dump shares, despite trading losses, in order to manipulate share prices and trigger activism by activist "relationship" investors. Nonactivist institutio...
| Main Authors: | , , |
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| Format: | Journal article |
| Published: |
2006
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