Title :
Notice of Retraction
Is merfer arbitrage profitable? — Evidence from China stock market
Author :
Jinxin Zhang ; Yuting Ji
Author_Institution :
Sch. of Econ. & Manage., Beijing Jiaotong Univ., Beijing, China
Abstract :
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
Merger arbitrage can get remarkable return according to research results of tender offers or mergers in United States, Canada, and Australia. But report has not been found about if merger arbitrage is a profitable investment strategy in China, whose capital market is still in the undeveloped stage and is dominated by negotiated acquisitions. This paper explores the performance of merger arbitrage involving 807 negotiated acquisitions during 2003-2005 in China stock market. Research result reveals that merger arbitrage with 5 days holding periods is a profitable investment strategy in China stock market.
Keywords :
investment; profitability; stock markets; China stock market; capital market; merger arbitrage; negotiated acquisitions; profitable investment strategy; Companies; Corporate acquisitions; Indexes; Investments; Portfolios; Profitability; Stock markets; acquisition by agreement; investment strategy; merger arbitrage;
Conference_Titel :
Business Management and Electronic Information (BMEI), 2011 International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-1-61284-108-3
DOI :
10.1109/ICBMEI.2011.5920529
