Bargeron, Leonce L.; Lehn, Kenneth; Moeller, Sara B.; … - In: Journal of Corporate Finance 25 (2014) C, pp. 155-172
information contained in bidder returns. We test the disagreement hypothesis, which posits that disagreement causes investors to … be less certain about their revaluation of acquiring firms, making bidder returns less informative. Consistent with this … hypothesis, we find an inverse relation between bidder returns, which proxy for the degree of disagreement, and the change in the …