Ryzyko jako determinanta premii z tytułu kontroli – empiryczna weryfikacja
Risk as a determinant of control premium – empirical evidence

Summary/Abstract: The main purpose of this study is to analyze the influence of risk on the level of control premium. The risk is measured on the basis of the volatility of the common stock return preceding the trade. We find evidence that the occurrence of block control premium depends on the level of risk. In other words, Polish investors tend to pay more for substantial blocks of shares of the companies which are more volatile.

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