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OTC Markets Remove OTC Markets →

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  • 2018
  • Working Paper

OTC Intermediaries
By: Andrea L. Eisfeldt, Bernard Herskovic, Sriram Rajan and Emil Siriwardane
Over-the-counter (OTC) markets for financial assets are dominated by a relatively small number of core intermediaries and a large number of peripheral customers. In this paper, we develop a model of trade in a core-periphery network and estimate its key structural...  View Details
Keywords: OTC Markets; Intermediaries; Dealers; Credit Default Swaps; Risk Sharing; Networks; Price; Risk and Uncertainty
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  • Article

The Value of Trading Relations in Turbulent Times
By: Marco Di Maggio, Amir Kermani and Zhaogang Song
This paper investigates how dealers’ trading relations shape their trading behavior in the corporate bond market. Dealers charge lower spreads to dealers with whom they have the strongest ties and more so during periods of market turmoil. Systemically important dealers...  View Details
Keywords: OTC Markets; Network; Corporate Bonds; Crisis; Intermediation Chains; Leaning Against The Wind; Networks; Bonds; Behavior; Financial Crisis
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  • January 2017
  • Supplement

Bayer AG: Bidding to Win Merck's OTC Business
By: Benjamin C. Esty, Marc Baaij and Arjen Mulder
Keywords: Acquisition; Bidding Strategy; Valuing Synergies; Negotiations; Corporate Strategy; Business Unit Strategy; Bidding Process; Discounted Cash Flow; Cross-border M＆A; Tax Shields; Valuation; Competitive Strategy; Auctions; Germany; United States; United Kingdom
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  • January 2017
  • Case

Bayer AG: Bidding to Win Merck's OTC Business
By: Benjamin C. Esty, Marc Baaij and Arjen Mulder
Shortly after submitting their best and final offer to acquire Merck's Consumer Care Division (a collection of "over-the-counter" (OTC) products with sales totaling $2 billion), the Bayer M&A team was given a chance to revise their bid because another potential...  View Details
Keywords: Acquisition; Bidding Strategy; Valuing Synergies; Negotiations; Corporate Strategy; Business Unit Strategy; Bidding Process; Discounted Cash Flow; Cross-border M＆A; Tax Shields; Valuation; Competitive Strategy; Auctions; Bids and Bidding; Germany; United States; United Kingdom
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  • June 2003
  • Teaching Note

Pepcid AC: Racing to the OTC Market (TN)
By: Charles King III, Alvin J. Silk and Ann Leamon
Teaching Note for (9-500-073).  View Details
Keywords: Chemical Industry
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  • February 2000 (Revised June 2003)
  • Case

Pepcid AC: Racing to the OTC Market
By: Charles King III, Alvin J. Silk, Ernst R. Berndt and Lisa R. Klein
Pepcid management must decide whether to risk all in a race to be first in the over-the-counter market with a new heartburn remedy.  View Details
Keywords: Competitive Advantage; Product Positioning; Markets; Research; Marketing Strategy; Product Development; Decision Choices and Conditions; Pharmaceutical Industry
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