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20 30 40 Lee & Yoo 1991 4 Hiseh & Miller 1990 Granger Lee & Yoo 1991 Kim & Oppenheimer 2002
1 : : : 1 Luckett 1982 Kumar & Ferris
& Chance 1991 speculative effect Goldberg 1985 Kumar et al 1991 liquidity effect 1974 50% 1987
Hardouvelis 1989 Hsieh & Miller 1990 Hardouvelis 1989 20 30 40 2006 1 1
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