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→Moeller et al 2007
year={2007},
publisher={Soc Financial Studies}
abstract={We examine the theoretical predictions that link acquirer returns to diversity of
opinion and information asymmetry. Theory suggests that acquirer abnormal returns
should be negatively related to information asymmetry and diversity-of-opinion
proxies for equity offers but not cash offers. We find that this is the case and that,
more strikingly, there is no difference in abnormal returns between cash offers for
public firms, equity offers for public firms, and equity offers for private firms after
controlling for one of these proxies, idiosyncratic volatility.}
}
