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Mispricing Between Identical Assets

Mispricing Between Identical Assets

 

Marketed By :  VDM Verlag Dr. Müller   Sold By :  Kamal Books International  
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  • Product Description
 

This study investigates the possible explanatory factors behind the mispricing in dual traded assets using Mondi Holdings as a case study. The study documents the existence of substantial mispricing, averaging 9%, between the Mondi twins. The results indicate that regulatory controls were significant in sustaining a larger part of the price deviations. Evidence of excess co-movements is also observed as a key driver of the mispricing, an indication that share prices are to some extent influenced by market sentiment and behavioural biases in markets in which they trade. It also appears as if any mispricing caused by excess co-movement cannot be arbitraged away due to lack of fungibility of the scrip. The paper does not find enough evidence to support the effects of transactions costs and fundamental/ twin specific variables. This analysis will be of great value to academics, investments analysts and professionals in the asset management industry as they seek to understand the subject. Active portfolio managers and arbitrageurs will make informed decisions given a good understanding of the drivers of the mispricings.

Product Specifications
SKU :COC70331
Country of ManufactureIndia
Product BrandVDM Verlag Dr. Müller
Product Packaging InfoBox
In The Box1 Piece
Product First Available On ClickOnCare.com2015-07-08
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