Why Does an Acquiring Firm's Cash Reserve Have a Negative Wealth Effect: Agency or Overvaluation?

Lead Research Organisation: University of Manchester
Department Name: Manchester Business School

Abstract

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Publications

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Gao N (2011) The adverse selection effect of corporate cash reserve: Evidence from acquisitions solely financed by stock in Journal of Corporate Finance

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Gao N (2015) The motives of cash reserve and bidder cash reserve effects in International Review of Financial Analysis

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N Gao (2015) Cash-Rich Acquirers Do Not Make Bad Acquisitions: New Evidence

 
Description Featured research (Business & Economics) 
Form Of Engagement Activity A magazine, newsletter or online publication
Part Of Official Scheme? No
Geographic Reach International
Primary Audience Media (as a channel to the public)
Results and Impact Invited by Business & Economy to contribute a popularized article based on this research, to target at a broad audience (business, practitioners and general public).
Year(s) Of Engagement Activity 2011
URL http://businessandeconomy.org/bfm/bfm-story.asp?s_id=60&pageno=1