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This page is referenced in:
*VC Acquisitions Paper
This page provides a summary details from the [[Information Asymmetry in Acquisitions Lit Review]] and the begining of the build notes for these variables.
Information Asymmetry Measures (view source)
Revision as of 19:35, 25 July 2012
, 19:35, 25 July 2012no edit summary
This page is referenced in:
*VC Acquisitions Paper
===Paper Codes===
The paper codes are as follows(where 'ea' denotes et al.):
'''Code Paper'''
AL00 Aboody and Lev 2000
Aea02 Affleck-Graves et al. 2002
Aea90 Amihud et al 1990
AB94 Atiase and Bamber 1994 BC11 Basu and Chevrier 2011 BR91 Brown and Ryngaert 1991 CL87 Calvet and Lefoll 1987 CS07 Capron and Shen 2007
Cea04 Carrow et al. 2004
C98 Chang 1998 CS01 Clarke and Shastri 2001 D91 Dierkens 1991 ET00 Eckbo and Thorburn 2000
Eea90 Eckbo et al 1990
ES99 Emery and Switzer 1999 FL04 Frankel and Li (2004)
Fea02 Fuller et al. 2002
KS99 Krishnaswami and Subramaniam 1999 L92 Lee (1992) LT07 Lobo and Tung 1997 M96 Martin 1996
Mea07 Moeller et al. 2007
O07 Officer (2007)
Oea09 Officer et al. 2009
T10 Tetlock 2010 T02 Thomas (2002) UC97 Utama and Cready 1997 Y03 Yook 2003 ==Summary Of Usage== There are 28 papers and 33 distinct variables broken into 8 distinct categories: Price/Vol, Analyst, News, CapX, Accounting, External, Transaction, and Target. '''Market Microstructure''' papers and measures are excluded from the summary and tabulation but included in [[Information Asymmetry in Acquisitions Lit Review]] with comments. The average paper uses 2.8 variables from 1.7 categories. The most variables and categories covered by a single paper are 9 and 4 respectively, for Tetlock 2010. Method of payment measures (cash vs. stock) are most popular, and present in half of all papers covered. Other transaction characteristics are rarely used. Acccounting-based measures, particularly Tobin's Q, and Analyst Forecast measures, particularly the Std. Dev. of Forecasts, are the next most popular and occur in approximately 1/3rd of all papers covered. Price/Volumet measures, particularly the idiosyncratic volatility, are the next most popular, occuring in approximately 1/5th of all papers covered.
