The study focuses on Greek non-financial firms listed on the Athens Exchange in the period 1998-2002 and shows that only a small fraction of these firms were in a position to finance their growth by exclusively using internal resources with the findings varying depending on the firms’ size....

We contribute to the debate on whether stock-financed acquisitions destroy value for shareholders. A stock-financed acquisition is a joint takeover/equity-issue event. Using SEO announcement returns, we estimate through linear prediction and propensity-score matching the share price drop that...