Bi-temporal Database Model for Legal Merger Transactions and Late-Arriving Information Problem: The Case of Polish Merger Market

Abstract

Most economical and financial software applications should take into consideration the temporal aspect of these processes. Bi-temporal databases guarantees that the results may be always reproduced exactly as they were at some previous point in time. The concept of bi-temporal data is reviewed when designing model of the merger transaction database. Special attention is paid to the problem of late-arriving information. The Polish merger market is presented as an example.