英语翻译
6.The only difference is that instead of using two separate regressions where we are interested in the time dummies,we now run one regression and use a stock dummy which takes a value of “1” if the merger is stock based and takes a value of “0” if the merger is cash based.
If stock-based acquirers advertise more in pre-merger announcement period then we should observe a significant positive coefficient for the stock dummy.The results of this analysis are reported in Table V.
前面是个公式,带β什么的,这段是对公式的分析.