WorldCat Identities

Pulvino, Todd

Overview
Works: 6 works in 18 publications in 1 language and 65 library holdings
Roles: Author
Classifications: HB1, 332.63228
Publication Timeline
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Most widely held works by Todd Pulvino
Slow moving capital by Mark Mitchell( Book )

13 editions published in 2007 in English and held by 29 WorldCat member libraries worldwide

We study three cases in which specialized arbitrageurs lost significant amounts of capital and, as a result, became liquidity demanders rather than providers. The effects on security markets were large and persistent: Prices dropped relative to fundamentals and the rebound took months. While multi-strategy hedge funds who were not capital constrained increased their positions, a large fraction of these funds actually acted as net sellers consistent with the view that information barriers within a firm (not just relative to outside investors) can lead to capital constraints for trading desks with mark-to-market losses. Our findings suggest that real world frictions impede arbitrage capital
Asset values and cost of capital : implications for capital structure decisions by Todd Pulvino( )

1 edition published in 1996 in English and held by 2 WorldCat member libraries worldwide

Strategic Capital Management, LLC (A) by Mark Mitchell( Book )

1 edition published in 2002 in English and held by 1 WorldCat member library worldwide

Price pressure around mergers by Mark Mitchell( Book )

1 edition published in 2002 in English and held by 1 WorldCat member library worldwide

This paper examines the trading behavior of professional investors around 2,130 mergers announced between 1994 and 2000. We find considerable support for the existence of price pressure around mergers caused by uniformed shifts in excess demand, but that these effects are fairly short-lived, consistent with the notion that short0run demand curves for stocks are not perfectly elastic. We estimate that roughly one half of the negative announcement period stock price reaction for acquirers in stock-financed mergers reflects downward price pressure caused by merger arbitrage short selling
Limited arbitrage in equity markets by Mark Mitchell( Book )

1 edition published in 2001 in English and held by 1 WorldCat member library worldwide

This paper examines the impediments to arbitrage in 82 situations between 1985 and 2000, where the market value of accompany is less than the sum of its publicly traded parts. These situations suggest clear arbitrage opportunities and providean ideal setting in which to study the risks and market frictions that prevent arbitrageurs from immediately forcing prices to fundamental values. We find that 30% of the situations terminate without converging. Furthermore, because of forced liquidation to satisfy capital requirements, we estimate that the returns to a specialized arbitrageur would be 50% larger if the path to convergence was smooth rather than as observed. Uncertainty about the distribution of returns and characteristics ofthe risks appear to be an important obstacle
Slow moving capital by Mark A Mitchell( )

1 edition published in 2007 in English and held by 1 WorldCat member library worldwide

 
Audience Level
0
Audience Level
1
  Kids General Special  
Audience level: 0.76 (from 0.74 for Slow movin ... to 0.99 for Slow movin ...)

Alternative Names
Pulvino, Todd C.

Pulvino, Todd Christopher

Languages
English (18)