Informed trading around acquisitions: Evidence from corporate bonds

This paper examines the prevalence of informed trading in corporate bonds prior to takeover announcements. We find significant pre-announcement trading activities and price movements in target bonds, in directions consistent with the nature of pending information. Improved transparency in the bond m...

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Bibliographic Details

Published in:	Journal of financial markets (Amsterdam, Netherlands) Vol. 18; pp. 182 - 205
Main Authors:	Kedia, Simi, Zhou, Xing
Format:	Journal Article
Language:	English
Published:	Elsevier B.V 01-03-2014
Subjects:	Corporate bond market Informed trading Merger and acquisition Transparency G34 Transparency G14 Informed trading Merger and acquisition Corporate bond market
Online Access:	Get full text
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