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This paper examines the profitability of merger arbitrage strategies in China. Additionally, it examines the presence of insider trading in the target company, prior to the announcement of the M&A offer, in the Chinese stock market. Using a sample of 22 tender offer bids (from January 2002 to December 2006) and applying standard event study methodology,(More)
This paper examines the impact of the 1986 Tax Reform Act (TRA) on trading volume and stock price behavior around the ex-dividend day. The paper shows that changes in capital gain taxes exert a differential effect on the trading volume and ex-day premiums of stocks with different yields and transaction costs. Results show that the trading volume around the(More)
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