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The impact of firm location on equity issuance

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The adverse selection effect of corporate cash reserve : evidence from the acquisitions solely financed by stock

Gao, Ning (contributor) - 2008

Rhodes-Kropf and Viswanathan (2004) suggest an adverse selection role of corporate cash reserve. Specifically, if investors know a bidder does not have to issue to invest, an attempt to do so sends a strong pessimistic signal of overvaluation. Despite its intuitiveness, this notion has not been...