Plausibly Exogenous [1405] - Takeovers (12/06/2023)
LHS Variable
Takeover activity
RHS Variable
Market price
Source of Exogenous Variation
Price pressure induced by mutual funds not due to informational reasons but rather to flows they face from investors
- Edmans, Goldstein, and Jiang (2012), “The real effects of financial markets: The impact of prices on takeovers”