Expected Market Reaction and the Choice of Method of Payment for Acquistions
收购方管理者预期市场对股票或现金支付方式的反应，并选择预期能带来更高异常收益的支付方式。
An acquiring firm's managers anticipate the stock market's reaction to their choice of stock or cash in pay for the acquisition and choose the method of payment that they expect to result in the greater abnormal returns.