• Are stock-financed takeovers opportunistic? 

      Eckbo, B. Espen; Makaew, Tanakorn; Thorburn, Karin S. (Working paper;2013:4, Working paper, 2013)
      We find that the probability of all-stock financed takeovers increases with measures of bidder overvaluation. However, when we instrument the bidder's pricing error using aggregate mutual fund flows, the reverse happens: ...