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A theory of capital structure, price impact, and long-run stock returns under heterogenous beliefs

Bayar, Onur; Chemmanur, Thomas J.; Liu, Mark H. - In: The review of corporate finance studies 4 (2015) 2, pp. 258-320

Persistent link: https://www.econbiz.de/10011344560

A Theory of Capital Structure, Price Impact, and Long-Run Stock Returns under Heterogeneous Beliefs

Bayar, Onur - 2016

We study an environment with short sale constraints and heterogeneous beliefs among outsiders and between insiders and outsiders. Firm insiders choose between equity, debt, and convertible debt to raise external financing. We analyze two settings: one where heterogeneous beliefs is the only...

Persistent link: https://www.econbiz.de/10013008933

Do acquirers with more uncertain growth prospects gain less from acquisitions?

Moeller, Sara B.; Schlingemann, Frederik P.; Stulz, René M. - 2004

Persistent link: https://www.econbiz.de/10002250744

Do acquirers with more uncertain growth prospects gain less from acquisitions?

Moeller, Sara B. (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002453083

Do Acquirers with More Uncertain Growth Prospects Gain Less from Acquisitions?

Moeller, Sara B. - 2004

, and higher idiosyncratic volatility. The opposite result holds for acquisitions of public firms paid for with cash for … idiosyncratic volatility. We show that this evidence can best be explained by models that emphasize information asymmetries, but the …

Persistent link: https://www.econbiz.de/10012785450