Our multiplicative feedback rule provides the arbitrageurs
with what may be a more realistic incentive structure than the linear feedback rule in Shleifer and Vishny (1997).
Some sectors of business will come over," says one union president, "and some--the arbitrageurs
, say--we can isolate as enemies.
who purchase more than $250,000 of a company's stock after the announcement of a takeover are not permitted to vote on that bid at a shareholder's meeting.
In recent arbitrage models developed by, inter alios, Grossman and Miller (1988), De Long, Shleifer, Summers, and Waldmann (1990) and Campbell and Kyle (1993), arbitrage is generally less than perfect because arbitrageurs
face either fundamental or noise trader risk.
In a merger that takes several months to close, sometimes arbitrageurs
will wind up buying and selling the shares involved amongst themselves.
Weinberg was followed by Gustave Levy, whose skill in trading earned him a reputation as one of Wall Street's "greatest arbitrageurs
The principle simply assumes that arbitrageurs
enter the market and quickly eliminate mispricing if a riskless profit opportunity exists.
With the former head (axed) of Drexel, Burnham, Lambert in attendance, along with an array of arbitrageurs
not generally seen at performance art affairs, Karole Armitage was playing to the converted at the premiere of her amazingly lackluster farrago, The Predators' Ball (subtitled Hucksters of the Soul).
A combination of rising stock prices and falling interest rates has forced many companies that have proposed leveraged buyouts to improve their offers to shareholders in recent months, and many arbitrageurs
have accumulated Revco stock in the expectation that the drug chain would follow suit.
exploiting pricing inefficiencies and cross-subsidies in the retail banking industry.
In addition to making palatable presentations to Paramount stockholders and arbitrageurs
, Clarke's team had to deal with investor relations people who were worried about negative reports.
who bought coupons from existing worker groups are also investors.